Dialog Group Bhd has secured new oil and gas concession rights in Thailand through its 50.01%-owned joint venture company, which has been appointed to operate the L8/66 onshore exploration block.
In a filing with Bursa Malaysia, Dialog said its joint venture company, Pan Orient Energy (Siam) Ltd (POES), received confirmation from the Thai government on Monday (Oct 5) that it had won the concession under Thailand’s 25th Onshore Bid Round. The bid was submitted together with Canada-based CanAsia Energy Corp.
Under the agreement, POES will act as the operator with a 70% participating interest, while CanAsia will hold the remaining 30% stake as a non-operating partner.
The development of the L8/66 block comes with a minimum work commitment of US$14.3 million (approximately RM58.4 million).
However, the concession award is still subject to the signing of the final concession agreement and fulfilment of the required conditions. Physical work is expected to begin once the agreement is completed.
POES is a joint venture between Dialog’s wholly-owned subsidiary, Pan Orient Petroleum Pte Ltd, and Thailand-based Sea Oil Energy Ltd, which owns the remaining 49.99% interest.
Dialog already operates the producing L53/48 onshore concession in Thailand through POES. The newly awarded L8/66 block is located next to this existing concession and was previously part of the L53/48 area before being returned to the Thai government under the original concession terms.
Dialog said the new block shares similar geological features with its existing operations, allowing the group to explore additional resources while making use of its current facilities, technical expertise and operational capabilities.
The company added that the latest concession would strengthen its upstream oil and gas business and create opportunities to improve operational efficiency through its existing technical services.
Dialog also said it would continue expanding across the upstream, midstream and downstream energy sectors, while exploring opportunities in sustainable and renewable energy to support long-term growth and stable income.
For the financial year ended June 30, 2026 (FY2026), Dialog recorded a 95.4% increase in net profit to RM593.55 million, compared with RM303.83 million in the previous financial year.
Revenue also grew 15.3% to RM2.88 billion from RM2.5 billion, supported by stronger contributions across its businesses, particularly in Malaysia. Its international operations also recorded higher profits due to increased sales of specialist products and services.
The group proposed a final dividend of three sen per share, bringing its total dividend for FY2026 to 4.7 sen per share, amounting to approximately RM265.93 million.
Dialog shares closed two sen higher, or 1.08%, at RM1.87 on Tuesday, giving the group a market capitalisation of RM10.56 billion. Its share price has gained more than 6% since the beginning of the year.
