KUALA LUMPUR: Dialog Group Bhd
’s 50.01 per cent indirectly owned joint venture company, Pan Orient Energy (Siam) Ltd (POES), has been awarded the concession rights and operatorship for the L8/66 exploration block onshore Thailand, with a minimum work commitment of US$14.3 million (US$1=RM4.08).
Dialog said that the Thai government notified POES on Oct 5, 2026, of the award following a joint bid with CanAsia Energy Corp in the 25th Thailand Onshore Bid Round.
Under the award, POES will serve as operator and hold a 70 per cent participating interest, while CanAsia will hold the remaining 30 per cent non-operating participating interest.
"The Concession L8/66 is subject to, among others, the finalisation and execution of the Concession Agreement, and the fulfilment of all conditions precedent stipulated in the Concession Agreement,” Dialog said in a filing with Bursa Malaysia today.
Physical work is expected to commence immediately after the concession agreement is signed.
The L8/66 concession is adjacent to Dialog’s existing L53/48 onshore concession, which it currently operates in Thailand.
Dialog said the block was previously part of the same concession before it was relinquished to the Thai government under concession terms requiring portions of undeveloped acreage to be surrendered over time.
"Following its award to POES, the block is expected to benefit from its proximity to L53/48 concession area with similar geological characteristics, offering POES access to additional acreage surrounding existing producing fields,” it said.
POES is a joint venture between Dialog’s indirect wholly-owned subsidiary Pan Orient Petroleum Pte Ltd, which holds a 50.01 per cent stake, and Thailand-based Sea Oil Energy Ltd with 49.99 per cent.
Dialog said the award strengthens its upstream portfolio and creates operational synergies by leveraging the group’s integrated technical services.
It said that the concession is expected to contribute positively to the company’s future earnings, although it is not expected to have any material effect on the group’s earnings, net assets or gearing for the current financial year. - Bernama
