Investment/PTTEP

PTTEP to invest 10bn baht to advance the national net zero goal

Editorial staff

PTT Exploration and Production Plc (PTTEP) has reached a final investment decision with 10 billion baht in five years on Carbon Capture and Storage Project (CCS) at the Arthit gas field, marks Thailand’s first CCS development, paving the way for the technology to play a significant role in advancing the country’s net zero goal.

Montri Rawanchaikul, chief executive officer of PTTEP, said the CCS Project at Arthit gas field is Thailand’s first CCS initiative, designed to capture and store up to 1 million tonnes of carbon dioxide per year.

“The five-year investment is estimated at approximately 10 billion. Importantly, the development will not impact natural gas production at the Arthit Field,” Mr Montri said.

As Thailand’s national petroleum exploration and production company, PTTEP is turning the Arthit CCS Project from vision to execution. This represents a strategic step toward applying the technology to reduce greenhouse gas emissions, in line with government policy, which recognizes the project under the Nationally Determined Contribution (NDC) Action Plan on Mitigation 2021–2030.

PTTEP strives not only to safeguard the country’s energy security but also to reduce greenhouse gas emissions. CCS is an essential technology, both nationally and globally, complementing other clean energy solutions in addressing climate change.

The Arthit CCS Project will serve as a pilot for cultivating expertise and driving CCS adoption in Thailand, including the Eastern CCS Hub in the Northern Gulf of Thailand, which has potential to make material contribution to the country’s Net Zero target and enhance the nation’s long-term economic competitiveness.

PTTEP will leverage existing infrastructure at Arthit field while constructing and installing additional facilities as required. Carbon storage operations are expected to commence in 2028, with capacity gradually ramping up to around 1 million tonnes of carbon dioxide per year.

The Arthit CCS Project has been endorsed as one of flagship projects for greenhouse gas emissions reduction under the NDC Action Plan, with an approved direction for the government to consider measures and granting of appropriate investment support such as tax incentives. PTTEP is working closely with relevant government agencies to ensure alignment with the country’s emission reduction objectives.

Montri Rawanchaikul, chief executive officer of PTTEP

PTTEP has conducted extensive studies and assessments in preparation for the project, covering the entire process—from storage site selection with reservoirs at depths of 1,000–2,000 meters, to engineering design, and comprehensive measurement, monitoring and verification (MMV) programs.

CCS is regarded as a reverse process of petroleum exploration and production. As natural gas is extracted from underground to provide energy for national development and everyday life, the excess carbon dioxide is captured and safely injected back into its original subsurface reservoirs.