Following the joint US-Israel strike on Iran, Thailand's national upstream company PTTEP has evacuated personnel from high-risk areas in the Middle East, prioritizing employee safety while closely monitoring the situation. The company's petroleum operations in the United Arab Emirates and Oman continue without interruption.

Domestic Energy Security Measures

To support the Ministry of Energy's policy, PTTEP has implemented preparatory measures to ensure the continuity of domestic petroleum supply. These include maximizing natural gas production in the Gulf of Thailand and adjusting planned maintenance shutdown schedules to mitigate potential impacts on the public and industrial sector.

National Oil and Gas Reserves

The Ministry of Energy reported that Thailand holds significant reserves to safeguard energy security. As of late February, in-country reserves of crude and refined oil totaled 4.92 billion litres, sufficient for 38 days of demand. An additional 2.87 billion litres were en route from various sources, including supplies outside the Strait of Hormuz, providing a further 23 days of coverage. Concurrently, four liquefied natural gas carriers were delivering to Thailand, with two having already passed through the Strait of Hormuz. The ministry stated it would seek alternative sources and take action to stabilize reserves and prevent shortages if the conflict prolongs or escalates.

Worker Safety and Regional Assets

The Labour and Foreign Affairs ministries have agreed to suspend sending Thai workers to risk areas in the Middle East. Currently, over 77,000 Thai workers are under the supervision of Thai labour offices in Tel Aviv, Abu Dhabi, and Riyadh. PTTEP maintains significant assets in the region, including interests in producing blocks and projects in Oman such as Block 53, Block 61, Block 6 (PDO), and Oman LNG. In the UAE, its assets comprise stakes in Adnoc Gas Processing (AGP), the Abu Dhabi Offshore 2 and 3 exploration concessions, and the under-development Ghasha project. The company affirms its readiness to safeguard Thailand's energy security and will continue monitoring the situation for significant developments.