Concession L53 / 48

In line with DIALOG’s strategy to expand and diversify across its business streams, the Group completed the acquisition of Pan Orient Energy Corp (POEC) in August 2022. POEC through its wholly owned subsidiary holds 50.01% equity interest in Pan Orient Energy (Siam) Ltd. (POES). The remaining 49.99% in POES is held by Sea Oil Energy Ltd.

POES is the concessionaire and operator of concession L53/48, located onshore in Nakhon Pathom Province, about 100 km northwest of Bangkok, Thailand. The acquisition is the first international DIALOG-operated upstream venture, paving the way for DIALOG to move further up the value chain in the upstream business.

The main activities in L53/48 concession focuses on oil development infill drilling and production enhancement activities. Additionally, efforts to harness the potential of by-passed oil and previously untested reservoirs in the concession will be undertaken. The oil from Concession L53/48 is sold to a local refinery.