The bulk of Thailandís oil production comes from offshore
in the Gulf of Thailand, much of it associated with gas. There has been
rapid growth in output and this will continue albeit at a decelerating
rate. A peak is expected around 2011 when new output from jointly
operated areas will be insufficient to replace decline in the older
The Gulf of Thailand is dominantly gas-prone. Except for a small decline
in 2001 output growth has been constant since it began in 1981 and this
is expected to continue as new areas are exploited on and offshore.
Production may reach a plateau by around 2012, after which decline will
not be far away.
Thailandís economy has grown strongly since 2001 and oil
consumption was escalating up to 2004 as the population got ever more
affluent. Since the country imports most of its oil, higher prices,
combined with unexpected political problems, have quelled demand and
consumption is likley to be flat for the next decade.
Meanwhile gas consumption is growing rapidly, albeit with a
recession-led dip expected in 2009. Imports, which began in 2001 from
Myanmar, are likely to begin growing again after 2012 as indigenous gas
production flattens off.