Thailand’s PTT Cambodia, a subsidiary of the kingdom’s state-owned oil and gas conglomerate PTT Public Company Limited, expects to more than double the amount of petrol stations it manages in Cambodia by the end of 2017, a senior executive in the company said this week.

Vice president of commercial and international marketing Auttapol Rerkpiboon said the company’s goal is to be a top regional brand in Asia.

“We have seen the opportunity in the Cambodian economy and market, that it can be invested in now,” he said. “Also, we want to be ready and well prepared for the future growth by the Asean Economic Community.”

PTT Public Company Limited, which is listed on Thailand’s stock exchange, plans to spend over $77 million between 2013 and 2017 to expand its oil retail business in the region, Auttapol added.

The new budget is $24 million more than the previous $53 million in an earlier plan for the four years between 2012 and 2016.

The state firm aims to have 300 petrol stations in neighbouring Asean countries by 2017, Auttapol said Tuesday. Outside of Thailand, there are 88 filling stations across the region.

As early as 2015, PTT wants to have 31 stations in Cambodia, up from 15; 40 in Laos, up from 20; 18 in Myanmar, a huge jump from one; and 108 in the Philippines, which now has 54.

PTT’s revenue from overseas branches last year totalled $1.8 million. The company expects growth of 28 per cent to reach $2.3 million in 2017.

Last year, revenue from stations outside of Thailand stood at $1.8 million, a 17 per cent increase from $1.5 million in 2011. Sales volumes grew 31 per cent, from 1.44 billion litres in 2011 to 1.9 billion litres in 2012.

The next station in Cambodia will be a platinum “one stop service station” due to open in October, said Bin Many Mialia, Cambodia PTT manager.

“This is within the five-year plan to expand more retail oil network and provide the highest standard petrol stations, ” he added.

The “platinum” station will have a cafe and convenience store in addition to the fuels and services of standard retailers.

Cambodia imported about 400,000 tonnes of petroleum in the first quarter of 2013, compared with 471,000 tonnes at the same period last year, a decline of 12 per cent, according to the ministry of commerce.

ADDITIONAL REPORTING FROM BANGKOK POST