(Unofficial Translation)

Annual Information Disclosure Form 56-1

As of December 31, 2004

PTT Exploration and Production Public Company Limited

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  Content

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Page DISKETTE FILE:

A. Cover – Content A – D PTTEPEA.DOC

1. Summary 1 PTTEPEB.DOC

2. Security Issued Company 3 PTTEPEC.DOC

3. Risk Factors 4 PTTEPED.DOC

1.  Business Operations Risks 4

    1.  Risks from hazards in business operations 4

    2.  Petroleum Commercial 4

    3.  Project Development 5

    4.  Investment Risks 6

2.  Administration and Management Risks 6

  3.2.1 One major shareholder of shares exceeding 50% 6

  3.2.2 Management Risks 6

3.  Financial risks 7

    1.  Fluctuations in oil and petroleum product prices 7

    2.  Exchange rate fluctuations 7

    3.  Interest rate fluctuations 8

4. Nature of the Business 9 PTTEPEE.DOC

  4.1 Establishment / Changes / Significant Development 9

  4.2 Business Overview 10

  4.2.1 Business Objective 10

  4.2.2 Shareholding Structure 11

  4.2.3 Project Investment Structure 12

  4.3 Revenue Structure 13

  4.4 Business Operation Target in 2004-2008 17

5. Business Operation of PTTEP and its subsidiaries 19 PTTEPEF.DOC

  5.1 Nature of Petroleum Business Operation 19

  5.1.1 Issue Concession Area 19

  5.1.2 Roles of the Operator 19

  5.1.3 Nature of Operations and Investment Decisions 19

4.  Description of Laws relating to the Business 20

5.  Details of Thailand I,II และ III Terms 22

  5.2 Description of petroleum products 23

  5.2.1 Petroleum 23

  5.2.2 Gas Transportation Pipeline 23

  5.2.3 Electricity 24

  5.3 Production 24

  5.3.1 Exploration &Production Processes & Technology 24

  Page DISKETTE FILE:

  5.3.2 Petroleum reserves and Production 25

3.  Projects Operation in Year 2004 26

4.  Environment Impact 34

  5.4 Marketing 36

1.  Marketing Policy & the Product Market 37

2.  Competition Environment 39

6. Research & Development 41 PTTEPEG.DOC

7. PTTEP and its Subsidiaries’ Assets 42 PTTEPEH.DOC

  7.1 Properties, Plant and Equipment 42

  7.1.1 Oil & Gas Properties 42

  7.1.2 Petroleum Reserve as of December 31, 2004 45

  7.2 Investment 45

3.  Net Book Value 47

4.  Management Policy of Affiliated Companies 47

8. Future Projects: Strategies and Directions of Investment Growth 48
PTTEPEI.DOC

9. Legal Disputes 49 PTTEPEJ.DOC

10. Capital Structure 50 PTTEPEK.DOC

  10.1 PTTEP Securities 50

  10.2 Other Securities: Bonds/Warrants 50

3.  Shareholders 52

  10.4 Number of shares and shareholders with rights will be affected by
  52

  NVDR issued from Thai Trust Fund

  10.5 Dividend Policy 53

11. Administration and Management 54 PTTEPEL.DOC

  11.1 Management Structure 54

  11.1.1 Committees: Board of Directors & Sub-Committees 54

  11.1.2 Corporate Secretary 58

  11.1.3 Executives and Management 58

  11.2 Nominating of Directors and Management 59

  11.2.1 Directors Nominating 59

  11.2.2 Executives Nominating 59

  11.3 Remuneration of the Board of Directors and Executives 59

  11.3.1 Directors’ Remuneration 59

  11.3.2 Executives’ Remuneration 60

  11.4 Corporate Governance Report 61

  11.4.1 Corporate Governance/Business Ethics/Leadership and Vision 61

  11.4.2 Controlling System and Internal Audit 62

  Page DISKETTE FILE:

  11.4.3 Risk Management 64

  11.4.4 Balance of Power, Aggregation or Segregation of Positions 65

  11.4.5 Sub-Committees 66

6.  Shareholders’ and Stakeholders Rights and Investor Relations 67

7.  Shareholders’ Meeting and Board of Directors’ Meetings 68

8.  Directors’ and Executive Remuneration 70

9.  Conflict of Interest 70

  11.5 Inside Information Handling 71

  11.6 Personnel 71

  11.6.1 Number of Personnel 71

  11.6.2 Number of Personnel by Divisions 71

3.  Employee Turnover 72

4.  Employee Remuneration 72

  11.6.5 Human Resources Development Policy 72

12. Internal Control 74 PTTEPEM.DOC

13. Connected Transactions 75 PTTEPEN.DOC

  13.1 Connected Persons 75

  13.1.1 Between PTTEP and PTT’s Affiliated Companies 75

  13.2 Connected Transactions 76

13.2.1 Regular commercial items 76
13.2.2 Short-term property lease not more than 3 years: 77

Office space lease

  13.3 Audit Committee’s Comments 78

  13.4 Future Connected Transactions 78

14. Financial Position and Results of Operation for Year 2004 79
PTTEPEO.DOC

1.  Auditor and Significant Accounting Policies 79

    1.  Auditor 79

    2.  Summary of Auditors’ Report in the past three years 79

    3.  Significant Accounting Policies 79

    4.  Bonds Issuing Liabilities 87

14.2 Summary PTTEP and its Subsidiaries Financial Statement 88

14.3 Summary Significant Financial Ratio Table 96

  14.4 Management Decision and Analysis on Operating Result 97
  for Year 2004

  14.4.1 PTTEP Performance 97

  14.4.2 Results of Operations 101

  14.4.3 Financial Position 103

  Page DISKETTE FILE:

  14.4.4 Impacts on Operational Results 106

15. Reference Information 107 PTTEPEP.DOC

  15.1 Juristic Persons of which the Company’s shareholding exceed 10%
  107

  15.2 Share Registrar 112

  15.3 Debenture Registrar 112

  15.4 Auditor 113

  15.5 Legal Consultant 113

  15.6 Other Advisors 113

16. Information Certification 115 PTTEPEQ.DOC

17. Attachment 1: Information of the Management 117 PTTEPER.DOC

and Controlling Person of the Company

  17.1 Directors of the Board 117

  17.2 Management 124

18. Attachment 2 Directors of PTTEP and its affiliates 127 PTTEPES.DOC

19. Attachment 3 Supplemental information on 128 PTTEPET.DOC

Petroleum and Exploration Activities under the US Finance Accounting

Standard No.69 (FAS 69) and other information - Unaudited

  19.1 PTTEP and its Subsidiaries’ Petroleum Reserves Report 128

  as of December 31,2004

  19.2 Capitalized cost relating to oil and gas producing activities 130

  19.3 Cost incurred in oil and gas property acquisition, exploration,
  130

  and development activities

  19.4 Results of operation for producing activities 131

  19.5 Standardized Measure of Discount Future Net Cash Flows Relating
  132

  to Proved Oil and Gas Reserves

6.  Other information 134

  Productive Oil and Gas Wells

Net Oil and Gas Wells Drilled Annually in 2004

20. Attachment 4 : Quarterly Performance of Year 2004 and Year 2003 135

21. Attachment 5 : Audit Committee Report 2004 137

22. Attachment 6 : Updated Summary of PTTEP and Subsidiaries’ Projects
    139