PTTEP

Editorial Team

PTTEP paid dividend 9.25 baht per share while US$ 5.48 billion investment this year

PTTEP’s 2022 operating results achieved as planned, approving dividend payment at 9.25 baht per share.

PTTEP delivered its business growth target in 2022 with a 12% increase of average petroleum sales volume to 468,130 barrels of oil equivalent per day (BOED).

Another achievement was the reduction of accumulated greenhouse gas emissions by more than 3 million tons of carbon dioxide equivalent.

Based on the performance last year, PTTEP provided taxes and other payments to the government at 62 billion baht, while the 2022 dividend payment at 9.25 baht per share was approved. Under the key roadmap for 2023, gas production at G1/61 project will be ramped up to help reduce the energy cost for Thai people.

Mr. Montri Rawanchaikul, chief executive officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed the 2022 performance that since PTTEP has set forth emission reduction plans to reach net zero greenhouse gas emissions by 2050, the company ably slashed cumulative carbon emissions by more than 3 million tons of carbon dioxide equivalent from base year 2012.

Meanwhile, PTTEP has proceeded with the study on carbon capture and storage (CCS) at Arthit field. The project has completed the preliminary front-end engineering and design (Pre-FEED) and is now conducting FEED. The company expects to make the final investment decision (FID) by the end of 2023 and plans to implement CCS in 2026, marking the first of its kind in Thailand.

Moreover, PTTEP is using technology to recover and utilize flare gas, as well as applying more renewable energy and new forms of clean energy at operating sites.

Meanwhile, in 2022, approximately 62 billion paid by PTTEP for company’s income tax, royalties and other remuneration. This strongly supports national development in various areas such as community, education, and research & development (R&D) funds.

Mr. Montri Rawanchaikul, chief executive officer of PTT Exploration and Production Public Company Limited

Based on the company’s performance, on January 30, 2023, the board of directors approved the proposed of 2022 dividend payment to the shareholders at 9.25 baht per share. The interim dividend for the first six-month operating results at 4.25 baht per share was paid on August 26, 2022, while the remaining dividend will be paid at 5 baht per share on April 24, 2023.

The record date of the company’s share registration for the right to receive the dividend is scheduled on February 15, 2023.

PTTEP has set 2023 budget at US$ 5.48 billion (equivalent to 191.81 billion baht) to support key business activities as follows; maximizing production volume from existing assets including G1/61 Project, G2/61 project, Arthit project, Contract 4 project, S1 project and producing projects in Malaysia; accelerating key projects’ activities which are under the development phase such as Malaysia SK410B project and Mozambique Area 1 Project; and expediting exploration activities to support long term growth in Thailand, Malaysia, and Oman.

Apart from the aforementioned allocations, PTTEP sets aside provisional budget of approximately US$ 4.8 billion (equivalent to 166 billion baht) for 2023 – 2027, aimed at expanding into beyond E&P businesses, including the study and development of power and renewables, CCS Initiatives, Carbon Capture and Utilization (CCU), clean hydrogen business, and the commercialization of PTTEP’s technology.

Mr. Montri added that PTTEP is exploring investment opportunities in beyond E&P businesses in preparation for the energy transition to support future growth, while aiming to reduce carbon dioxide emissions, towards being a low carbon organization, for example, businesses related to renewable energy, future energy, and innovation and technology. To support this aspiration, PTTEP has established subsidiaries such as Corporate Venture Capital (CVC) - Xplor Ventures Company Limited – to invest in tech startups aiming to pursue new technologies.