PTTEP invites allies to join the CCUS project to reduce carbon emissions to solve the global warming crisis.

The climate change crisis is not far away anymore. If there is no hurry to fix the impact that has happened to Thailand, it will be the ninth largest in the world, affecting the gross domestic product (GDP) by minus 40%.

This has resulted in the cooperation of government agencies, private sectors, and the social sector to play a role and actively participate in solving climate change problems. and find ways to reduce carbon emissions in accordance with Thailand’s declaration of intent at the Conference of the States Parties to the United Nations Framework Convention on Climate Change (COP26) to set Carbon Neutrality in the year . 2050 and Net Zero Emissions in 2065

Recently, the PTT Group consists of PTT Public Company Limited (PTT), PTT Exploration and Production Public Company Limited (PTTEP), Thai Oil Public Company Limited (TOP), and Thai Oil Public Company Limited (TOP). PTT Global Chemical (PTTGC) and Global Power Synergy Public Company Limited (GPSC) cooperate with partners in the education sector and the private sector, namely Chulalongkorn University, SCG Cement Public Company Limited, Bangkok Ind. Streal Gas Co., Ltd. and Sahaviriya Steel Industries Public Company Limited announced the establishment of a cooperation group for the development of technology on the capture, utilization and storage of carbon dioxide or the “CCUS Consortium”.

with government agencies and public organizations as advisors whether it is the Energy Policy and Planning Office Ministry of Energy Electricity Generating Authority of Thailand and Greenhouse Gas Management Organization (Public Organization) to study guidelines for development and application of carbon capture, utilization and storage (CCUS) technologies derived from the country’s major industrial sectors. to reduce greenhouse gas emissions This is an important step of national cooperation in the development of efficient technology prototypes under the cooperation of the private sector in all 5 major industries, comprising Oil & Gas, Cement, Steel, Chemical ( Chemical) and Energy (Power) work together to drive and develop CCUS technology that is the hope that Thailand achieves the goal of Net Zero in 2065.

to adjust the petroleum sales volume target

Montree said the company would soon announce its target of petroleum sales volumes for 2022, an increase of 4.67 thousand barrels of oil equivalent per day (BOE) per day. because the company recognizes the production and distribution of gas from the Yadana project In Myanmar, the increase in shareholding ratio from 25.5% increased to 37.0842% after the company France’s TotalEnergies EP Myanmar (TotalEnergies), withdraws from human rights pressures effective July 20, 2022, and the Arthit and Bongkot fields have also accelerated petroleum production. to compensate for production from the Erawan field with reduced petroleum production capacity including other petroleum resources abroad

while the price of petroleum, both crude oil and natural gas PTTEP this year has increased significantly. Although during the 3rd quarter, the oil price was quite volatile. but remained at a high level It is believed that in the 4th quarter of 2022, petroleum prices should rebound. Due to the winter season, the demand for energy has increased. If the conflict between Russia and Ukraine is prolonged, making 2022 another golden year for PTTEP.

As for the Yetagun gas field, which holds 19.31% shares, PTTEP has notified the Myanmar government to request a withdrawal of investment in the Yetagun project. Including halting investment in Tanintayi Pipeline Company Limited (TPC), a company that operates natural gas pipelines from the Yetagun field to Thailand. As it is nearing the end of the concession contract, production and distribution volumes are steadily decreasing. In 2021, the Yetagun field sells only 17 million cubic feet per day of natural gas and 560 barrels of condensate per day. Therefore, the divestment has almost no effect.

While the Yadana project The average sales volume is 770 million cubic feet per day. It is an important source of natural gas. Approximately 550 million cubic feet per day of natural gas is sent into Thailand for electricity generation, accounting for 17% of Thailand’s natural gas demand and 50% of Myanmar’s natural gas demand. Therefore, the company has to persist in investing in Myanmar despite various pressures in the future as the Yadana field is an important gas source for energy security for both countries.

Montree Lawanchaikul Chief Executive Officer PTT Exploration and Production Public Company Limited or PTTEP (PTTEP) said that the company has brought knowledge. and experience in petroleum geology and engineering of Exploration and Production (E&P) to develop Carbon Capture and Storage (CCS) projects to reduce carbon emissions from petroleum production processes. The carbon obtained from the compressed petroleum production will be returned to the former petroleum wells that are no longer produced. which is a technology that many The country assesses it as a key technology in reducing CO2 emissions into the atmosphere by a greater amount than any other technology.

PTTEP is in the process of carbon capture and storage (CCS) trials using the existing petroleum wells in the concession-owned Arthit field. The first phase is targeted to store approximately 1 million tonnes of carbon per year in solar fields. Pre-FEED study is currently underway. CCS technology is expected to begin. in the Arthit project in the next 4 years

PTTEP has set a budget to invest in the CCS project in the Arthit 5 field this year (2522 – 2026) as high as USD 300 million, or around 11 billion baht. And to use the area in the Gulf of Thailand for carbon sequestration would require a huge investment.

It is estimated that in the Gulf of Thailand, unproductive wells can be used to store up to 40 million tons of carbon dioxide, but there are legal restrictions on access to the area. In this regard, the state will have to amend the rules. to be able to utilize in the unowned area in the Gulf of Thailand

Recently, the government has set up a sub-committee to consider this matter. He acknowledged that the production wells in the petroleum fields that PTTEP operates in the Gulf of Thailand have the potential to undertake CCS projects, whether they are the Bongkot Field or the Erawan Field. which is in the process of studying the details of the ability to do the CCS project

Montree said PTTEP has also joined forces with Impex Corporation and JGC Holdings Corporation, which are partners from Japan. A feasibility study on the development of a Carbon Capture and Storage (CCS) project in the Sinphuhor natural gas field, Udon Thani province, is expected to happen soon. Carbon from the production of industrial plants will be imported. to the storage

Moreover, PTTEP has signed cooperation agreements with 5 leading international companies in the field of energy and logistics. Study on the possibility of setting up a prototype plant to produce Green e-methanol, a low-carbon fuel derived from bio-carbon dioxide capture in Singapore. This is the use of technology to bring bio-carbon dioxide (Biogenic CO2) and production of green hydrogen. Focusing on Singapore’s shipping and shipping industry It is one of the world’s most important bunkering hubs. This creates a wide range of energy needs to help reduce carbon emissions.

Although the development of CCS and CCUS technologies is the hope of solving the problem of greenhouse gas emissions for the industry. But achieving the Carbon Neutrality goal must be done in parallel in many areas, for example, promoting the use of all electric vehicles (EV) will reduce carbon emissions to 160-170 million tonnes from Thailand’s 250 million tonnes of carbon emissions less. With another 40 million tons of CCS projects in the Gulf of Thailand, additional offsets are still needed, such as reforestation, renewable energy use. to make Thailand a step towards a low-carbon society

For the organization PTTEP sets a goal for the company to reduce greenhouse gas emissions to zero (Net Zero Emissions) by 2050 through the concept of EP Net Zero 2050, which is one of the important plans. is to reduce greenhouse gas emissions from petroleum production processes. with the development of the CCS project in which the Company began the study and development of the CCS project at Arthit in the Gulf of Thailand for the first time in Thailand in 2021, as well as the study and development of the CCS Hub Model project, which is a collaboration within the PTT Group to The reduction of greenhouse gas emissions of industries in PTT Group and nearby industries as well. If successful, it will be another new business that will generate income. PTTEP, another channel

to adjust the petroleum sales volume target

Montree said the company would soon announce its target of petroleum sales for 2022, an increase of 4.67 thousand barrels of oil equivalent per day (BOE) per day. because the company recognizes the production and distribution of gas from the Yadana project In Myanmar, the increase in shareholding ratio from 25.5% increased to 37.0842% after the company France’s TotalEnergies EP Myanmar (TotalEnergies), withdraws from human rights pressures effective July 20, 2022, and the Arthit and Bongkot fields have also accelerated petroleum production. to compensate for the production from the Erawan field with reduced petroleum production capacity including other petroleum resources abroad

while the price of petroleum, both crude oil and natural gas PTTEP this year has increased significantly. Although during the 3rd quarter, the oil price was quite volatile. but remained at a high level It is believed that in the 4th quarter of 2022, petroleum prices should rebound. Due to the winter season, the demand for energy has increased. If the conflict between Russia and Ukraine is prolonged, making 2022 another golden year for PTTEP.

As for the Yetagun gas field, which holds 19.31% shares, PTTEP has notified the Myanmar government. to request the withdrawal of investment in the Yetagun project Including halting investment in Tanintayi Pipeline Company Limited (TPC), a company that operates natural gas pipelines from the Yetagun field to Thailand. As it is nearing the end of the concession contract, production and distribution volumes are steadily decreasing. In 2021, the Yetagun field sells only 17 million cubic feet per day of natural gas and 560 barrels of condensate per day. Therefore, the divestment has almost no effect.

While the Yadana project has average sales volume of 770 million cubic feet per day. It is an important source of natural gas. Approximately 550 million cubic feet per day of natural gas is sent into Thailand for electricity generation, accounting for 17% of Thailand’s natural gas demand and 50% of Myanmar’s natural gas demand. Therefore, the company has to persist in investing in Myanmar despite various pressures in the future as the Yadana field is an important gas source for energy security for both countries.