PTT Exploration and Production Public Company Limited (PTTEP) announced the investment plan for 2023 and the 5-year investment plan (2023-2027), emphasizing investments that align with operational strategies. The aim is to strengthen the petroleum exploration and production business together with the development of various projects to reduce carbon dioxide emissions. along with moving forward to invest in new businesses Supporting the global energy transition to create sustainable growth
Montri Lawanchaikul Mr. CEO of PTTEP or PTTEP. revealing that of the challenges of the energy transition and a determination to play a part in solving the global warming problem, PTTEP has therefore adapted its strategic plan so that the business can grow sustainably
By focusing on 3 areas of action (Pillars), namely driving and increasing the value of the petroleum exploration and production business (Value Drive), including increasing production from projects in Thailand to create energy security for the country. And speed up the development of major projects in South East Asia and the Middle East.
At the same time, the company also focuses on reducing greenhouse gas emissions. (Decarbonization) to support the goal of net zero greenhouse gas emissions in 2050 by accelerating the development of Carbon Capture and Storage (CCS) projects, zero emissions from excess emissions from petroleum production processes. normal flares)
Increasing the use of renewable and clean energy in our operations, including offsetting emissions through terrestrial and mangrove plantation projects, as well as implementing our Ocean for Life strategy to add abundance to the sea It is a highly efficient natural carbon sink.
In addition, the company also focuses on creating new business growth (Diversification) for advanced technology. Robots and artificial intelligence, as well as businesses that reduce greenhouse gas emissions. and new energy business for the future
In doing so, PTTEP has allocated an annual expenditure budget for the year 2023 at 5,481 million US dollars (equivalent to 191,818 million baht), divided into
– Capital Expenditure or CAPEX in the amount of 3,152 million US dollars (equivalent to 110,296 million baht).
– Operating Expenditure or OPEX in the amount of 2,329 million US dollars (equivalent to 81,522 million baht) to support the following operational plans:
1. Increase petroleum production Including accelerated exploration activities Developed and manufactured in addition to key production projects. Creating energy security in Thailand, including the G1/61 project (Erawan, Platong, Satun and Funan fields), G2/61 project (Bongkot field), Arthit project. Contract Project 4, Project S1 and Production Project in Malaysia Capital expenditure amounting to 2,655 million US dollars (equivalent to 92,925 million baht) was allocated to support such activities. There are also activities planned to reduce greenhouse gas emissions from various production projects as planned. Aiming for net zero greenhouse gas emissions in 2050, such as the CCS project, the use of renewable energy. Install equipment to reduce greenhouse gas emissions and offset greenhouse gas emissions, etc., by allocating capital expenditure in the amount of 53 million US dollars (equivalent to 1,855 million baht).
2. Accelerate the development of major projects such as Malaysia SK 410B Project and Mozambique Area 1 Project to start production as planned. The company has allocated capital expenditure in the amount of 322 million US dollars (equivalent to 11,270 million baht).
3. Accelerate exploration in various projects to support long-term growth An investment of 193 million US dollars (equivalent to 6,755 million baht) has been allocated for geological studies and the drilling of exploration and evaluation wells for projects in the country Thailand, Malaysia and Oman.
In addition to the budget allocation mentioned above, PTTEP has reserved a budget of 4,800 million US dollars (equivalent to 166,052 million baht) for the year 2023-2027 for the expansion of investment in new businesses to develop electricity business Renewable Energy Business Clean Hydrogen Business Study CCS Business for Capture and Use (CCU). extending the company’s existing technology to commercial and other businesses to support the energy transition.
As well as a budget allocation to create growth for the petroleum exploration and production business which is the main business Including operations that aim to reduce carbon dioxide emissions in order to become a low carbon enterprise in the future.
PTTEP also prepares additional budgets for investment in new businesses in line with strategic plans. We are looking for investment opportunities in businesses other than petroleum exploration and production. The aim is to increase the proportion of investment in new businesses. to create strong growth in the long term
