Thailand’s PTT plans to invest an estimated $1.3 billion over five years to build its Cafe Amazon coffee shop franchise into a global brand to rival the likes of Starbucks.

“We aim to build the Cafe Amazon into a top 10 global brand over the next five years,” said PTT oil & retail chief executive Jiraporn Khaosawas.

The Thai national outfit has its sights set on opening about 20,000 outlets worldwide, taking Cafe Amazon into new markets, including China and the Middle East.

Oman will be the hub for PTT’s coffee shop expansion in the Middle East.

PTTEP, the parent's upstream subsidiary, is no stranger to Oman, where it is eyeing new E&P opportunities, despite divesting its producing gas condensate asset Block 44 two years ago.

Cafe Amazon currently operates 2300 branches in Thailand, Laos, Cambodia, the Philippines, Myanmar and Japan.

Since 2016, PTT has been planning to sell off at least 50% of its retail division in a bid to offset declining revenues from its oil business as global crude prices stagnated.

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PTT perks up for coffee shot