Bangkok, – PTTEP reveals operating results for the 9-month period of 2023 as planned. By installing additional production platforms in the G1/61 project and continuously looking for opportunities to invest in clean energy. Both blue hydrogen and green hydrogen, including the development of the CCS project, can deliver approximately 47,600 million baht in revenue to the government to develop the country.
Mr. Montree Lawanchaikul Chief Executive Officer of PTT Exploration and Production Public Company Limited or PTTEP revealed that in the 9 months of 2023, PTTEP has made progress in operations in both exploration and production businesses. and petroleum production and new businesses It has drilled production wells and installed additional new production platforms in the G1/61 project, which is in line with the plan to increase natural gas production volumes to 800 million cubic feet per day in April 2024, including increasing gas production. In the Arthit project, the rate is approximately 350 million cubic feet per day. This is higher than the contracted gas sales volume in response to the government's guidelines for reducing the impact on energy costs for the people.
In terms of progress in investing in new businesses, PTTEP has expanded cooperation with POSCO Holdings, a leading steel producer in South Korea. To find investment opportunities in integrated blue hydrogen and green hydrogen production projects, including carbon capture and storage (CCS) projects, from previously investing in the development of green hydrogen production projects. Large hydrogen project in Oman While Future Tech Energy Ventures Company Limited (FTEV), a subsidiary of PTTEP, operates clean energy businesses. Has started producing solar power "Lan Saeng Arun" to be used in the petroleum production process at the S1 Project, which will help reduce the use of electricity from natural gas. and help reduce greenhouse gas emissions
PTTEP also signed a cooperation agreement (MOU) with the Fisheries Department to study and research the application of technology for converting carbon dioxide into mineral rocks. and used to increase the strength of artificial corals used to restore and develop the habitats of marine animals to be fertile and help reduce global warming problems. In addition, the company has implemented the PTTEP Subsurface University Energy Connect project in cooperation with leading universities in the country. Study and develop research Exchange knowledge To promote the creation of personnel with knowledge and ability in the field of geosciences. and petroleum engineering for the energy industry which supports Thailand in creating energy security and carbon dioxide capture and storage (CCS) with the goal of reducing carbon dioxide emissions at the same time.
For operating results for the 9 months of this year, PTTEP had total revenue of 6,646 million US dollars (US$) (equivalent to 229,345 million baht) and had an average petroleum sales volume of 457,737 barrels of oil equivalent per day Similar to the same period last year. while the average product selling price decreased by approximately 10 percent to 48.14 US dollars per barrel of oil equivalent. However, expenses in the past 9 months decreased, resulting in a net profit of 1,694 million US dollars. (equivalent to 58,422 million baht) while maintaining unit cost at 27.23 US dollars per barrel of crude oil equivalent. and has an earnings before interest, taxes, and depreciation margin of 74 percent
Delivering income of 47,600 million baht from business operations for national development from operating results in the 9 months of 2023, PTTEP can deliver income to the government. This comes in the form of income taxes, royalties, production bonuses, and other benefits, approximately 47,600 million baht, to be used to develop the country in various areas such as community development, education, and research and development. etc
Source: Thai News Agency