PTT Public Company Limited, Thailand’s national energy flagship, has entered a strategic partnership with DeepControl to jointly usher in a new era of energy efficiency and low-carbon development in Southeast Asia.

Recently, PTT Public Company Limited — Thailand’s national-level core leading enterprise (Petroleum Authority of Thailand) — formally signed a strategic cooperation agreement with DeepControl in Bangkok, Thailand, and simultaneously launched the AI-powered HVAC energy-saving project for the Energy Complex (EnCo) building. On the signing day, Mr. Sirasak Chandrema, President of PTT’s Energy Complex, and Ms. Yuxin Zhang, COO of DeepControl, attended the ceremony alongside their respective teams to discuss collaboration. PTT is a Thai government-controlled listed company under the supervision of two departments under Thailand’s Ministry of Industry — the Department of Mineral Resources and the Department of Petroleum and Natural Gas. As an economic entity, it manages the country’s petroleum and natural gas resources on behalf of the government. Established in 1978 and headquartered in Bangkok, PTT’s core businesses span upstream oil & gas exploration and production, petroleum refining, oil storage and distribution, and natural gas processing. In May 2020, it ranked 170th on the Forbes Global 2000 list. This collaboration kicks off with the EnCo building’s AI-driven HVAC energy-saving initiative as its first implemented project. The EnCo building was jointly developed by PTT and its subsidiary PTTEP (PTT Exploration and Production), and was conceived from the outset as a centralized office hub for energy-related enterprises and government agencies — aiming to enhance inter-agency coordination, reduce operational costs, and pioneer new models integrating energy, buildings, and environmental sustainability. Reportedly, the EnCo building was designed from inception around the principle of “exemplary energy conservation and environmental protection,” strictly adhering to international standards including LEED (Leadership in Energy and Environmental Design) and ASHRAE Standard 90.1. Its integrated, system-wide energy management framework covers power systems, HVAC systems, and sanitary systems. Currently, the building achieves an annual energy consumption of approximately 81.30 kWh/m² — significantly lower than the typical range of 140–200 kWh/m²·year for conventional buildings. As Bangkok’s first LEED-certified Platinum-rated green building, EnCo has previously received multiple authoritative accolades, including the Thailand Energy-Efficient Building Award, the Thailand Energy Award, and the ASEAN Energy Award.

The 15th Thailand Bangkok International Oil & Gas Exhibition (OGET) 2026: A Brilliant Event for Southeast Asia’s Energy Industry

6. The Oil & Gas Technology Forum Zone will host in-depth technical seminars over three days. IX. Market Analysis: Thailand holds 39 petroleum exploration licenses — 17 onshore and 22 offshore. Thailand’s oil & gas market size is estimated at USD 4.5 billion in 2025 and is projected to reach USD 5.86 billion by 2030, representing a compound annual growth rate (CAGR) of 5.41% during the forecast period (2025–2030). According to Thailand’s World Daily newspaper, PTT’s future strategy emphasizes revenue diversification: beyond developing upstream oil & gas resources and expanding its downstream value chain — particularly its existing petrochemical business — the company also plans to invest in large-scale power generation projects. Reports indicate that PTT’s 2022 budget totaled THB 95 billion, primarily allocated to oil and gas exploration and production. Including investments by PTT subsidiaries, an additional THB 900 million was added. These funds were sourced mainly from internal cash flow and bond issuances. At the beginning of last year, PTT announced a five-year investment plan totaling THB 243.52 billion (approximately USD 7.3 billion), with 46% earmarked for natural gas projects and joint ventures. Key natural gas initiatives include Thailand’s fourth onshore natural gas pipeline and the construction of natural gas vehicle refueling stations. Joint venture investments include PTT LNG Company and PTT Green Energy Company. Investment in oil-related projects amounted to THB 9.97 billion — accounting for 4% of the total investment. As Thailand’s economy continues to grow, industrial and residential electricity demand keeps rising. Recently, PTT executives revealed that, to enter this sector and further diversify revenue streams, the company is negotiating with shareholders of two hydropower plants in Laos. PTT intends to acquire a 25% equity stake in both companies, with one investment expected to be finalized in Q1 2017. Additionally, PTT recently partnered with B. Grimm Group and Bang Kradee Industrial Park in Pathum Thani Province to jointly construct a 118-MW power plant, in which PTT holds a 23% stake. PTT began investing in power generation facilities in 2022, initially focusing only on small-scale projects. In 2018, PTT invested THB 2.43 billion alongside its subsidiaries PTT Chemical (PTTCH) and PTT Aromatics & Refining (PTTAR) to establish a natural gas-fired power plant located within the Rayong Industrial Estate. In 2010, PTT partnered with Navanakorn Industrial City (NNCL) and Ratchaburi Electricity Generating Holding (RATCH) to build a natural gas-fired power plant in Pathum Thani Province, holding a 30% stake; the plant has a capacity of 260 MW and supplies electricity primarily to local industrial estates. The company’s investments in the petrochemical sector are also continuously expanding. In July 2022, PTT signed a natural gas procurement agreement with Myanmar, sourcing offshore natural gas from the M-9 gas field — jointly developed by PTT’s subsidiary PTTEP (PTTEP.TH) and Myanmar Oil and Gas Enterprise (MOGE).

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Thai state-owned oil firm PTT confirmed discussions with potential foreign partners for refining stakes, noting no final deals despite ADNOC negotiation reports. Strategic goals include enhancing competitiveness and energy security amidst market volatility.

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PTT Clarifies Foreign Investment Stake Rumors in Refining Business

PTT Clarifies Foreign Investment Stake Rumors in Refining Business

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