Oil & Gas

Oil and Gas Investment Portfolio

The Group manages a portfolio of oil and gas investments, with its core investment located in Thailand.

Amid a challenging business environment and relatively low oil prices in recent years, the Group adopted a prudent approach by recording full impairments on non-core and non-performing assets in other regions, thereby strengthening the overall quality of its asset portfolio.

Thailand Onshore Oil Concessions

Loyz Thailand Pte. Ltd. (“Loyz Thailand”), a wholly-owned subsidiary of the Group, holds a 20% participating interest in three producing concessions — SW1, L44/43, and L33/43 (collectively, the “Thailand Onshore Oil Concessions”) — located in the Phetchabun Basin, Thailand.

These concessions currently generate a steady income stream from existing oil-producing wells.

The production licence for the SW1 concession was renewed for another 10 years from July 2016, while the production licences for L44/43 and L33/43 will expire in 2032.

At present, there are thirteen production licences covering a total area of 124.7 square kilometres under these concessions.

The Group actively manages these oil concessions through a Joint Operation with its partners. Significant cost optimisation initiatives implemented over the past few years have resulted in substantially lower operating costs. With oil prices showing signs of recovery, the Group will continue to develop and unlock the potential of the Thailand Onshore Oil Concessions.

These assets hold substantial proven reserves for development, as well as significant upside potential for further exploration, offering opportunities for value enhancement and sustainable long-term growth.