Horizon Oil Sanctions Low-Cost Nam Phong Compressor to Lift Thai Gas Output

Horizon Oil Limited ( (AU:HZN) ) has shared an update.

Horizon Oil Limited has approved the final investment decision for the Nam Phong Booster Compressor Project in onshore Thailand, a low-cost, strategic upgrade aimed at boosting gas recovery from the recently acquired Nam Phong field. The project involves installing a refurbished gas engine-driven compressor powered by treated field gas, with all key environmental and regulatory approvals already secured and Production Solutions appointed as the preferred vendor. Once operational in mid-2026, the compressor is expected to lift field output by at least 40%, delivering a material increase in gas production rates and volumes and generating strong returns with rapid payback, while Horizon’s share of development costs will be under US$1.5 million, funded from existing cash and field revenues. Management positions the move as a swift value-maximisation step that strengthens the company’s role in meeting Thailand’s energy needs and underscores the effectiveness of its partnership structure, with Matahio leading project execution and PTTEP as joint venture partner.

The most recent analyst rating on (AU:HZN) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Horizon Oil Limited stock, see the AU:HZN Stock Forecast page.

More about Horizon Oil Limited

Horizon Oil Limited is an upstream oil and gas company with interests in onshore and offshore fields, including the Nam Phong gas field in Thailand, where it participates through MH Energy Thailand. The company focuses on developing and optimising hydrocarbon production assets in the Asia-Pacific region, leveraging joint venture partnerships to enhance field performance and supply regional energy markets.

YTD Price Performance: 2.44%

Average Trading Volume: 1,212,594

Technical Sentiment Signal: Buy

Current Market Cap: A$341.8M

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