The agreement wiill support the development of the Special Eastern Economic Corridor: Eastern Aviation initiative under Thailand 4.0.
The parties to the agreement said the development of U-Tapao airport would boost the competitiveness of Thailand, and increase employment, income, economic growth and life quality.
Energy was the key to development U-Tapao airport, and PTT is the state enterprise under the Ministry of Energy with the mission to ensure long-term energy security for the nation, they said.
A PTT statement said the company had specialised in this field for 40 years and was ready to support this development.
“Our support in oil, gas and infrastructure and sustainability management will help promote U-Tapao to become a hub of Asian aviation and a place for Thai pride,” the statement said.