5. PTTEP and its Subsidiaries’ Assets

Property, Plant and Equipment 

Oil and Gas Properties ¹

PTTEP and its subsidiaries’ properties mainly are jointly controlled oil
and gas properties in each project. Oil and Gas properties, which
located at each project, comprise land, buildings and construction,
machine and equipments including transportation pipeline, capitalized
exploratory and production drilling costs, property acquisition costs of
concession right which shall incur when PTTEP and its subsidiaries
acquire the concession right and decommissioning costs which have been
determined based on reviews and estimates by the Group’s own engineers
and managerial judgment.

As at December 31, 2011, PTTEP and its subsidiaries’ oil and gas
properties are represented as share of the joint ventures’ individual
assets for each project as follows:-

  ---------- ------------ ------------ ----------------------------------------- ----------------------
  PTTEP’s                                                                        Company's interest (%)
  joint                                                                          
  ventures                                                                       

  1.         Contract 3³                                                         5

  2.         E5                                                                  20

  3.         Sinphuhorm                                                          20
             (E 5-North)                                                         

  4.         Algeria                                                             24.5
             Hassi Bir                                                           
             Rekaiz                                                              

  5.         S1                                                                  25

  6.         Bongkot                                                             44.4445
             (Block B15,                                                         
             B16, B17)                                                           

  7.         Contract 4²                                                         45

  8.         Arthit                                                              80
             (Block B14A,                                                        
             B15A, B16A)                                                         

  9.         Arthit North                                                        100

  PTTEPI’s                                                                       Company's interest (%)
  joint                                                                          
  ventures                                                                       

  10.        G4/48                                                               5

  11.        Contract 3³                                                         5
             (Block                                                              
             G6/50)                                                              

  12.        Yetagun                                                             19.31784

  13.        G4/43                                                               21.375

  14.        Yadana                                                              25.50

  15.        Cambodia B                                                          33.333334

  16.        Bongkot                                                             44.4445
             (Block                                                              
             G12/48)                                                             

  17.        Contract 4²                                                         45
             (Block                                                              
             G7/50)                                                              

  18.        MTJDA - B17                                                         50
             ( Block B-17                                                        
             and B-17-01)                                                        

  19.        L 21,28 &                                                           70
             29/48                                                               

  20.        Arthit                                                              80
             (Block                                                              
             G9/48)                                                              

  21.        Arthit                                                              80
             (Block                                                              
             G8/50)                                                              

  22.        PTTEP1                                                              100

  23.        G9/43                                                               100

  24.        L 22/43                                                             100

  25.        Myanmar M3,                                                         100
             M7 & M11⁴                                                           

  26.        Myanmar                                                             80
             Zawtika⁴                                                            

  27.        L53/43 &                                                            100
             L54/43                                                              

  28.        A4,5 & 6/48                                                         100

  PTTEPO’s                                                                       Company's interest (%)
  joint                                                                          
  venture                                                                        

  29.                     B8/32 & 9A⁵                                            25.0010

  PTTEP SV’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  30.        Vietnam                                                             7
             52/97                                                               

  PTTEP KV’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  31.        Vietnam B &                                                         8.5
             48/95                                                               

  PTTEP HL’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  32.        Vietnam 16-1                                                        28.5

  PTTEP HV’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  33.        Vietnam 9-2                                                         25

  PTTEP OM’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  34.        Oman 44                                                             100

  PTTEP AG’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  35.                     Algeria 433a                                           35
                          & 416b                                                 

  PTTEPS’s                                                                       Company's interest (%)
  joint                                                                          
  venture                                                                        

  36.                     Sinphuhorm                                             20
                          (EU-1)                                                 

  37.                     B6/27                                                  60

  38.                     S1                                                     75

  PTTEP AO’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  39.                     Australia                                              30
                          WA-423-P                                               

  PTTEP BH’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  40.                     Bahrain 2                                              100

  PTTEPR’s                                                                       Company's interest (%)
  joint                                                                          
  venture                                                                        

  41.                                  Rommana                                   30

  PTTEP SEMI                                                                     Company's interest (%)
  II Limited                                                                     
  ’s joint                                                                       
  venture                                                                        

  42.                                  Indonesia Semai II                        28.33

  PTTEP                                                                          Company's interest (%)
  SAER’s                                                                         
  joint                                                                          
  venture                                                                        

  43.                                  Sidi AbdEl Rahman Offshore⁷               30

  PTTEP NZ’s                                                                     Company's interest (%)
  joint                                                                          
  venture                                                                        

  44.        New Zealand                                                         18
             Great South                                                         
  ---------- ------------ ------------ ----------------------------------------- ----------------------

+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| SM  |   |                                         |                     |
| D’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 45. | I |                                         | 34                  |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | o |                                         |                     |
|     | n |                                         |                     |
|     | e |                                         |                     |
|     | s |                                         |                     |
|     | i |                                         |                     |
|     | a |                                         |                     |
|     | S |                                         |                     |
|     | o |                                         |                     |
|     | u |                                         |                     |
|     | t |                                         |                     |
|     | h |                                         |                     |
|     | M |                                         |                     |
|     | a |                                         |                     |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | a |                                         |                     |
|     | r |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| M   |   |                                         |                     |
| L’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 46. | I |                                         | 100                 |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | o |                                         |                     |
|     | n |                                         |                     |
|     | e |                                         |                     |
|     | s |                                         |                     |
|     | i |                                         |                     |
|     | a |                                         |                     |
|     | M |                                         |                     |
|     | a |                                         |                     |
|     | l |                                         |                     |
|     | u |                                         |                     |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | a |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| S   |   |                                         |                     |
| D’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 47. | I |                                         | 30                  |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | o |                                         |                     |
|     | n |                                         |                     |
|     | e |                                         |                     |
|     | s |                                         |                     |
|     | i |                                         |                     |
|     | a |                                         |                     |
|     | S |                                         |                     |
|     | a |                                         |                     |
|     | d |                                         |                     |
|     | a |                                         |                     |
|     | n |                                         |                     |
|     | g |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| S   |   |                                         |                     |
| S’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 48. | I |                                         | 20                  |
|     | n |                                         |                     |
|     | d |                                         |                     |
|     | o |                                         |                     |
|     | n |                                         |                     |
|     | e |                                         |                     |
|     | s |                                         |                     |
|     | i |                                         |                     |
|     | a |                                         |                     |
|     | S |                                         |                     |
|     | o |                                         |                     |
|     | u |                                         |                     |
|     | t |                                         |                     |
|     | h |                                         |                     |
|     | S |                                         |                     |
|     | a |                                         |                     |
|     | g |                                         |                     |
|     | e |                                         |                     |
|     | r |                                         |                     |
|     | i |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| C   |   |                                         |                     |
| A’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 49. |   |                                         | 40                  |
| Can |   |                                         |                     |
| ada |   |                                         |                     |
| Oil |   |                                         |                     |
| Sa  |   |                                         |                     |
| nds |   |                                         |                     |
| KKD |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| PT  |   |                                         | Company's interest  |
| TEP |   |                                         | (%)                 |
| A   |   |                                         |                     |
| P’s |   |                                         |                     |
| jo  |   |                                         |                     |
| int |   |                                         |                     |
| v   |   |                                         |                     |
| ent |   |                                         |                     |
| ure |   |                                         |                     |
+-----+---+-----------------------------------------+---------------------+
| 50. |   | PTTEP Australasia                       |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/L7, AC/L8,    | 100                 |
|     |   |     AC/P33, AC/P34 and AC/P40)          |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/L1, AC/L2 and | 89.6875             |
|     |   |     AC/L3)                              |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/RL7)          | 100                 |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/RL4           | 100                 |
|     |   |     (Tenacious))                        |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/P24)          | 90                  |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/RL6           | 50                  |
|     |   |     (Audacious), AC/P4, AC/RL4 (exclude |                     |
|     |   |     Tenacious), AC/RL5, AC/RL6 (exclude |                     |
|     |   |     Audacious) , AC/P17)                |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/P32)          | 35                  |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (WA378P⁶, WA396P  | 20                  |
|     |   |     and WA397P)                         |                     |
+-----+---+-----------------------------------------+---------------------+
|     |   | -   PTTEP Australasia (AC/P 54)         | 100                 |
+-----+---+-----------------------------------------+---------------------+

¹ See more detail in Attachment 3 – Supplementary Information of Oil and
Gas Producing Activities

² Change name from Pailin to Contract 4.

³ Change name from Unocal III to Contract 3

⁴ According to the project rearrangement, the Myanmar Zawtika project
comprises concession block M9 and the northeast part of block M11, and
the Myanmar blocks M3, M4, M7 and M11 excluding the northeast part of
block M11.

⁵ PTTEPO has shareholding in Orange Energy Limited and B 8/32 Partners
Limited, which holds the project’s concessions.

⁶ On 29 September 2011 PTTEP Australasia PtyLtd had terminated its 20%
investment in concession block WA-378-P which will become effective upon
the official approval from the Australian government.

  ⁷ In March 2011 PTTEP Sidi AbdEl Rahman Company Limited had terminated
  its 30% investment in Sidi AbdEl Rahman Offshore project which will
  become effective upon the official approval from the Egyptian
  government.

As at December 31, 2011, details of properties’ net book value are as
follows:-

  Unit: Million USD

  ---------------------------- -------------- ----------- -------- ---------------
  Property, Plant and          Proved         Pipelines   Other    Consolidated*
  Equipment - Net              Properties and                      Total
                               Related                             
                               Producing                           
                               Properties                          

  Land                         7.50           -           2.82     10.32

  Building and Construction    12.68          -           49.69    62.37

  Acquisition Cost             1,018.22       -           -        1,018.22

  Geological and Geophysical   116.16         -           -        116.16
  Survey                                                           

  Exploration / Delineation    690.49         -           -        690.49
  Well                                                             

  Development Well             1,311.36       -           -        1,311.36

  Production Facilities        5,296.24       262.55      8.03     5,566.82

  Other Development Cost       141.71         -           -        141.71

  Decommissioning Cost         353.36         -           -        353.36

  Support Facilities and Other 29.50          -           20.71    50.21
  Assets                                                           

  Allowance for Impairment     (20.11)        -           -        (20.11)

  Total                        8,957.11       262.55      81.25    9,300.91
  ---------------------------- -------------- ----------- -------- ---------------

  ---------------------------- -------------- ---------- -------- ---------------
  Intangible Assets, Net       Exploration    Goodwill   Other    Consolidated*
                               and Evaluation                     Total
                               Assets                             

  Acquisition Cost             924.15         -          -        924.15

  Exploration/ Delineation     183.34         329.70     32.55    545.59
  Well and Others                                                 

  Allowance for Impairment     (3.49)         -          -        (3.49)

  Total                        1,104.00       329.70     32.55    1,466.25
  ---------------------------- -------------- ---------- -------- ---------------

* Inter-company transaction have already been eliminated

Investments 

As at December 31, 2011, PTTEP has 53* subsidiaries and 13** associated
companies. PTTEP and its subsidiaries’ investment lists are presented as
follows:

+----------+-----------+---------+------+-------+--------+------------+
| Company  | Type of   | Paid-in | %    | Cost  | Equity | Major      |
|          | Business  | Capital |      | M     | Method |            |
|          |           |         | of   | ethod |        |            |
|          |           |         | inte |       |        |            |
|          |           |         | rest |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           | (       |      | (Mi   | (M     | s          |
|          |           | Million |      | llion | illion | hareholder |
|          |           | USD)    |      | USD)  | USD)   |            |
+----------+-----------+---------+------+-------+--------+------------+
| Subs     |           |         |      |       |        |            |
| idiaries |           |         |      |       |        |            |
| company  |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPI   | Petroleum | 516.38  | 100  | 5     | 1,     | PTTEP 100% |
|          | E&P       |         |      | 16.38 | 496.57 |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPO   | Petroleum | 0.007   | 75   | 0.005 | 855.68 | PTTEP 75%  |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         | 25   | 0.002 | 285.23 | PTTEPI 25  |
|          |           |         |      |       |        | %          |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP SV | Petroleum | 0.05    | 100  | 0.05  | (      | PTTEPO     |
|          | E&P       |         |      |       | 10.65) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP KV | Petroleum | 0.05    | 100  | 0.05  | (      | PTTEPO     |
|          | E&P       |         |      |       | 17.25) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP HL | Petroleum | 0.05    | 100  | 0.05  | (1     | PTTEPO     |
|          | E&P       |         |      |       | 66.23) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+

+----------+-----------+---------+------+-------+--------+------------+
| Company  | Type of   | Paid-in | % of | Cost  | Equity | Major      |
|          | Business  | Capital | inte | M     | Method |            |
|          |           |         | rest | ethod |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           | (       |      | (Mi   | (M     | s          |
|          |           | Million |      | llion | illion | hareholder |
|          |           | USD)    |      | USD)  | USD)   |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP HV | Petroleum | 0.05    | 100  | 0.05  | (      | PTTEPO     |
|          | E&P       |         |      |       | 37.91) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP OM | Petroleum | 0.05    | 100  | 0.05  | (      | PTTEPO     |
|          | E&P       |         |      |       | 85.08) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP AG | Petroleum | 0.05    | 100  | 0.05  | (1     | PTTEPO     |
|          | E&P       |         |      |       | 03.88) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPT¹  | Petroleum | 2.54    | 100  | 2.54  | (2.96) | PTTEPI     |
|          | E&P       |         |      |       |        | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    | Services  | 0.03    | 25   | 0.01  | 0.005  | PTTEP 25%  |
| Services |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         | 75   | 0.04  | 3.06   | PTTEPI 75% |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPS   | Petroleum | 4.00    | 51   | 99.79 | 162.98 | PTTEP 51%  |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         | 49   | 95.18 | 130.88 | PTTEPO 49% |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP IR | Petroleum | 0.05    | 100  | 0.05  | (      | PTTEP OM   |
|          | E&P       |         |      |       | 74.98) | 100%       |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP BH |           | 0.05    | 100  | 0.05  | (      | PTTEP OM   |
|          | Petroleum |         |      |       | 16.10) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPH   |           | 0.05    | 100  | 0.05  | (3     | PTTEPO     |
|          | Petroleum |         |      |       | 94.19) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP ID |           | 0.05    | 100  | 0.05  | (      | PTTEPH     |
|          | Petroleum |         |      |       | 97.65) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPB   |           | 0.05    | 100  | 0.05  | (      | PTTEP ID   |
|          | Petroleum |         |      |       | 10.75) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPA   |           | 0.007   | 100  | 0.007 | (      | PTTEPS     |
|          | Petroleum |         |      |       | 0.002) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP EG |           | 0.05    | 100  | 0.05  | (      | PTTEPH     |
|          | Petroleum |         |      |       | 43.12) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEPR   |           | 0.05    | 100  | 0.05  | (      | PTTEP EG   |
|          | Petroleum |         |      |       | 10.48) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.05    | 100  | 0.05  | (      | PTTEP EG   |
| SAER     | Petroleum |         |      |       | 32.55) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.45    | 100  | 0.45  | (      | PTTEPH     |
| AU^(***) | Petroleum |         |      |       | 58.06) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP BD |           | 0.05    | 100  | 0.05  | (      | PTTEPH     |
|          | Petroleum |         |      |       | 10.87) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.05    | 100  | 0.05  | 0.03   | PTTEPH     |
| SA^(2,7) | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP NZ |           | 0.05    | 100  | 0.05  | (      | PTTEPH     |
|          | Petroleum |         |      |       | 13.27) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP SM |           | 0.05    | 100  | 0.05  | (      | PTTEPID    |
|          | Petroleum |         |      |       | 69.93) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP AP |           | 0.04    | 100  | 0.04  | 30.18  | PTTEPH     |
| ^(***)   | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| ATL      |  Gas      | 0.05    | 100  | 0.05  | (7.49) | PTTEPO     |
|          | pipeline  |         |      |       |        | 100%       |
|          | trans     |         |      |       |        |            |
|          | portation |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP IH |           | 0.05    | 100  | 0.05  | (2     | PTTEPH     |
|          | Petroleum |         |      |       | 00.96) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    | Gas       | 0.05    | 100  | 0.05  | (0.04) | PTTEPH     |
| SVPC     | pipeline  |         |      |       |        | 100%       |
|          | trans     |         |      |       |        |            |
|          | portation |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP FH |           | 0.001   | 100  | 0.001 | (6.79) | PTTEPIH    |
|          | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| JV Shore |           | 0.05    | 100  | 0.05  | 0.04   | PTTEPIH    |
| Ba       | Petroleum |         |      |       |        | 100%       |
| se^(3,7) | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP NL |           | 0.05    | 100  | 0.05  | (1     | PTTEPIH    |
|          | Petroleum |         |      |       | 92.10) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| JV       |           | 0.05    | 100  | 0.05  | (0.12) | PTTEPIH    |
| Marine⁴  | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.05    | 100  | 0.05  | (1.76) | PTTEPID    |
| SMD      | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP SS |           | 0.05    | 100  | 0.05  | (1.74) | PTTEPID    |
|          | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP SD |           | 0.05    | 100  | 0.05  | (2.82) | PTTEPID    |
|          | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP ML |           | 0.05    | 100  | 0.05  | (      | PTTEPID    |
|          | Petroleum |         |      |       | 10.34) | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| Company  | Type of   | Paid-in | % of | Cost  | Equity | Major      |
|          | Business  | Capital | inte | M     | Method |            |
|          |           |         | rest | ethod |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           | (       |      | (Mi   | (M     | s          |
|          |           | Million |      | llion | illion | hareholder |
|          |           | USD)    |      | USD)  | USD)   |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 1       | 0.0  | 0     | (1.85) | PTTEPIH    |
| NC⁷      | Petroleum | ,000.05 | 0005 | .0005 |        | 0.000050%  |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         | 99.9 | 1,0   | 816.42 | PTTEPNL    |
|          |           |         | 9995 | 00.05 |        | 99.99995%  |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 1       | 100  | 1,0   | 817.17 | PTTEPNC    |
| CA⁷      | Petroleum | ,000.05 |      | 00.05 |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.05    | 100  | 0.05  | (3.57) | PTTEPNC    |
| CIF⁷     | Petroleum |         |      |       |        | 100%       |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    |           | 0.05    | 100  | 0.05  | 0.05   | PTTEP 100% |
| MEA⁷     | Petroleum |         |      |       |        |            |
|          | E&P       |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| As       |           |         |      |       |        |            |
| sociated |           |         |      |       |        |            |
| company  |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| EnCo     | Commerce  | 49.58   | 50   | 24.79 | 21.78  | PTTEP 50%  |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | PTT 50%    |
+----------+-----------+---------+------+-------+--------+------------+
| PTT ICT  | Services  | 3.94    | 20   | 0.79  | 2.18   | PTTEP 20%  |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | PTT 20%    |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | ATC 20%    |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | PTTCH 20%  |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | TOP 20%    |
+----------+-----------+---------+------+-------+--------+------------+
| PTTEP    | Services  | 0.97    | 50   | 0.48  | 2.97   | PTTEP AAO  |
| AP’s     |           |         |      |       |        | 50%        |
+----------+-----------+---------+------+-------+--------+------------+
|   Ass    |           |         |      |       |        |            |
| ociates⁵ |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| Jointly  |           |         |      |       |        |            |
| co       |           |         |      |       |        |            |
| ntrolled |           |         |      |       |        |            |
| entities |           |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
| CPOC     | Petroleum | 0.10    | 50   | 0.05  | 0.06   | PTTEPI 50  |
|          | E&P       |         |      |       |        | %          |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | CARIGALI   |
|          |           |         |      |       |        | 50%        |
+----------+-----------+---------+------+-------+--------+------------+
| MGTC     | Natural   | 0.03    | 25.5 | 0.008 | 61.34  | PTTEPO     |
|          | gas       |         |      |       |        | 25.50%     |
|          | pipelines |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          | -         |         |      |       |        | UNOCAL     |
|          | Overseas  |         |      |       |        | 28.2625%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | TOTAL      |
|          |           |         |      |       |        | 31.2375%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | MOGE 15.0% |
+----------+-----------+---------+------+-------+--------+------------+
| TPC      | Natural   | 0.10    | 19.  | 8.01  | 44.14  | PTTEPO     |
|          | gas       |         | 3178 |       |        | 19.3178%   |
|          | pipelines |         |      |       |        |            |
+----------+-----------+---------+------+-------+--------+------------+
|          | -         |         |      |       |        | PETRONAS   |
|          | Overseas  |         |      |       |        | 40.9102%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | NIPPON     |
|          |           |         |      |       |        | 19.3178%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | MOGE       |
|          |           |         |      |       |        | 20.4542%   |
+----------+-----------+---------+------+-------+--------+------------+
| Orange   | Petroleum | 4.00    | 53.  | 3     | 195.39 | PTTEPO     |
|          | E&P       |         | 9496 | 29.77 |        | 53.9496%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | MOECOI     |
|          |           |         |      |       |        | 36.0504%   |
+----------+-----------+---------+------+-------+--------+------------+
|          |           |         |      |       |        | PSI 10%    |
+----------+-----------+---------+------+-------+--------+------------+

  ------------- ------------- ---------- ---------- ---------- ---------- -------------
  Company       Type of       Paid-in    % of       Cost       Equity     Major
                Business      Capital    interest   Method     Method     

                              (Million              (Million   (Million   shareholder
                              USD)                  USD)       USD)       

  Jointly                                                                 
  controlled                                                              
  entities                                                                
  (continued)                                                             

  B8/32         Petroleum E&P 4.40       25.0009    109.95     52.68      PTTEPO
  Partners                                                                25.0009%

                                                                          MOECOI
                                                                          16.7064%

                                                                          PSI 4.6346%

                                                                          Chevron
                                                                          53.6583%

  PTT FLNG      Petroleum E&P 0.0006     50         0.0006     (6.77)     PTTEPFH 50%

                                                                          PTTI 50%

  Erawan2       Petroleum E&P 0.0001     13.11      11.67      11.74      JV Marine
                                                                          13.11%

                                                                          Chevron
                                                                          65.91%

                                                                          Mitsui Oil
                                                                          20.98%

  KOSP⁶         Petroleum E&P 3,966.47   40         2,067.58   2,099.95   PTTEP CA 40%

                                                                          Statoil
                                                                          Canada 60%

  LAL           Services      21.17      40         7.40       7.52       PTTEP CA 40%

                                                                          Statoil
                                                                          Canada 60%

  GBRS          Petroleum E&P -          35         -          -          PTTEP AG 35%

                                                                          PVEP 40%

                                                                          Sonatrach 25%
  ------------- ------------- ---------- ---------- ---------- ---------- -------------

^(*) Including Orange Energy Limited which accounted for using
proportionate consolidation for jointly controlled entity

^(**) Associated companies including Enco, PTT ICT, ShoreAir Pty Ltd,
Troughton Island Pty Ltd and jointly controlled entities including CPOC,
MGTC, TPC, B8/32 Partners, PTT FLNG, Erawan2, KOSP, LAL and GBRS

^(***) Details of PTTEP AU’s subsidiaries and PTTEP AP’s subsidiaries
are as follows:-

¹ As at December 24, 2010, PTTEPT has registered for the dissolution
with the Ministry of Commerce and is in the process of liquidation.

² The name of PTTEP Myanmar Limited (PTTEP MYA) was changed to PTTEP
South Asia Limited (PTTEP SA).

³ The name of PTTEP Brazil Holding Limited (PTTEP BR) was changed to JV
Shore Base Limited (JV Shore Base).

⁴ As at January 17, 2011, JV Marine Limited entered into an agreement to
purchase 13.11% interest in Erawan 2 FSO Bahamas Ltd.

⁵ PTTEP AP’s Associates are ShoreAir Pty Ltd and Troughton Island Pty
Ltd.

⁶ The name of Statoil Canada Partnership (SCP) was changed to KKD Oil
Sands Partnership (KOSP).

⁷ As at December 31, 2011 PTTEP SA, JV Shore Base, PTTEP NC, PTTEP NC,
PTTEP CA, PTTEP CIF, and PTTEP MEA have share receivables.

Net Book Value

As at December 31, 2011, PTTEP’s net book value amounted to USD 6,312
million (equivalent to Baht 200,024 million) or USD 1.90 per share
(equivalent to Baht 60.26 per share).