PTTEP moves forward with Thailand's first CCS project at Arthit field to advance the national Net Zero goal

Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stated that 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. As Thailand's national petroleum exploration and production company and with today's decision, 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" Mr. Montri said.

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.

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. 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 five-year investment is estimated at approximately THB 10 billion (equivalent to USD 320 million). Importantly, the development will not impact natural gas production at the Arthit Field.

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.

Beyond CCS project, PTTEP has also implemented a range of initiatives to reduce greenhouse gas emissions. These include reusing excess gas from petroleum production processes, improving production efficiency, adopting renewable energy, and prioritizing low-carbon intensity projects within its portfolio. The company has also undertaken reforestation and mangrove planting projects to expand green areas that can help to absorb greenhouse gases substantially.

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