PTTEP's sustainable ocean initiatives recognised at the Asian Oil & Gas Awards

Its Ocean for Life strategy is structured around three key workstreams.

Operating primarily offshore, PTT Exploration and Production Public Company Limited (PTTEP) recognises the critical need to preserve and restore natural resources and marine ecosystems. 

PTTEP is firmly committed to providing national energy security whilst prioritising economic, social, and environmental equilibrium through its Sustainability Framework. 

With the vision of becoming the "Energy Partner of Choice," PTTEP emphasises shared value creation to benefit all stakeholders (From We to World), encompassing the pillars of High Performance Organisation (HPO), Governance, Risk Management, and Compliance (GRC), and Sustainable Value Creation (SVC).

To translate their vision into actionable initiatives, PTTEP has instituted the "Ocean for Life" strategy, structured around three key workstreams.

First is PTTEP’s sustainable ocean-friendly operation, which has achieved zero produced water discharge to the environment for all operations in Thailand, ensuring minimal ocean contamination risks. The company has exceeded industry benchmarks in spill performance and commercially developed advanced technologies such as AUV, Xplorer, and Nautilus, contributing to underwater maintenance and inspection services safely and cost-effectively.

Next are sustainable ocean health and blue carbon solutions. PTTEP's Ocean Data Platform significantly enhances Thailand's ocean database, aiding in precise Environmental Impact Assessment (EIA) reports, various prediction models, and supporting ocean conservation. The company is actively engaged in blue carbon initiatives, conducting feasibility studies for carbon absorption by marine plants, and leading mangrove reforestation projects. PTTEP's commitment to ocean health is a key facet of its fight against climate change.

Finally, PTTEP is also determined to enable a sustainable community around the ocean by establishing aquatic animal hatchery learning centres, sea products development groups, and fish homes. 

These initiatives boost community income and build awareness about ocean resource utilisation and conservation amongst local fishermen, actively involving them in the drive towards sustainable oceans.

Recognition for its efforts

PTTEP's dedicated efforts towards sustainable ocean initiatives have gained significant traction, earning the company the ESG Initiative of the Year - Thailand award at the Asian Oil & Gas Awards. This recognition underlines PTTEP's commitment to environmental, social, and governance excellence, further propelling its mission towards a sustainable future.

PTTEP's "Ocean for Life" strategy is a testament to the company's dedication to environmental stewardship and responsible business practices. By prioritising the preservation of the ocean and fostering sustainable communities, PTTEP is setting a standard for responsible corporate citizenship in the energy sector.

The Asian Oil & Gas Awards is presented by Asian Power Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's outstanding contributions and initiatives in the oil and gas sector in Asia, please contact Danica Avila at [email protected].

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