Thailand’s national upstream company PTTEP has been ramping up its international operations of late with E&P activities in core areas including Southeast Asia and the Middle East.

In recent years, PTTEP has made several significant hydrocarbon discoveries offshore Malaysia, including its giant Lang Lebah gas field.

However, PTTEP chief executive Montri Rawanchaikul admits this was no overnight success, with exploration efforts often coming up dry.

In the last decade, the company's board felt that PTTEP should focus on inorganic growth by acquiring others’ assets rather than investing further in unsuccessful exploration.