Department of Mineral Fuels Director-General Warakorn Brahmopala said the upcoming 26th petroleum licensing round in the Andaman Sea represents a “new hope” for Thailand’s energy sector. Geological data suggests the potential for a major gas discovery, comparable to nearby Malaysian fields containing up to 10 trillion cubic feet of reserves.
If Thailand finds even half that volume, Warakorn noted, the country could secure 20 years of supply.
Several global oil majors — Chevron, ENI, Total, Exxon and PTTEP — have already expressed strong interest. The department is considering a hybrid fiscal regime, combining concession and PSC (production sharing contract) models to attract investment in deep-water zones, where drilling costs average US$27 million per well.
If significant gas reserves are found, the Andaman project could generate hundreds of billions of baht in economic value, while reducing reliance on LNG imports, which have been highly volatile due to global geopolitical tensions — notably during Middle East conflicts, when LNG prices surged two- to three-fold, directly impacting Thailand’s electricity costs.
The initiative would also stimulate new jobs, infrastructure investment (such as LNG terminals and processing facilities), and regional development, reinforcing Thailand’s long-term energy resilience.
Ultimately, the opening of the Andaman Sea is more than an exploration campaign — it is a strategic play to build a secure, future-proof energy foundation that supports Thailand’s transition toward clean energy and strengthens its regional competitiveness.