PTTEP wins at Asian Oil & Gas Awards 2024

The company’s digital transformation initiative DigitalX Project along the PTTEP value chain earned it the recognition.

PTT Exploration and Production Public Company Limited (PTTEP), Thailand’s national energy company, won the Digital Transformation Initiative of the Year – Thailand category – at the Asian Oil & Gas Awards 2024, being recognised for its transformation strategy that focusses on digital advancements.

PTTEP is committed to becoming a high-performance, low-carbon organisation. With this objective, the company initiated a transformation strategy that focusses on digital advancements, organisational improvements, and adaptation to new norms to boost competitiveness.

Central to this effort is the “DigitalX Project,” which integrates 65 digital features to propel PTTEP’s digital transformation.

Digital innovation

Digital innovation is deemed by PTTEP as a crucial factor in performance enhancement and value creation. With this, the company has aimed to foster a digital culture and empower employees by establishing a Digital Center of Excellence that accelerates the development and deployment of digital skills and solutions throughout the organisation.

By leveraging data platforms and artificial intelligence, PTTEP has significantly improved work efficiency, optimised costs, reduced time, increased revenue, and avoided potential expenses.

One of the company’s notable digital innovations is PathSight, a system for locating oil and gas wells and wellhead platforms in the Gulf of Thailand. It uses advanced optimisation algorithms and extensive subsurface data to identify the best drilling locations, which then improves speed and accuracy compared with traditional methods.

Also, amongst the innovations are the AI-driven tools MLOG (Minimum Leak-Off Gradient & Loss Prediction) and DORA (Drilling Operations Real-time Analysis). Both tools enhance drilling performance by predicting pre-drilling issues through virtual simulations and statistical models. They also reduce financial losses and resource expenditure on drilling rod issues.

Moreover, the company also implemented the APEX CO2 Membrane Optimisation, a digital solution that aims to reduce hydrocarbon loss. It uses machine learning and optimisation algorithms to advise on the most efficient process parameters for CO2 membrane operations.

Additionally, the company utilises AI for early detection and prompt for resolution which monitors machine health in real-time, forecasts machinery lifespan, and ensures timely maintenance. This reduced machine downtime by 85% and saved a large amount of budget in the past three years.

Aside from these, PTTEP uses an AI and ML-based solution that estimates project costs with greater accuracy and speed; GPT technology to streamline the bid evaluation process that decreases evaluation time by 92%; and advanced AI algorithms that predict demand, optimise stock levels, and lessen excess inventory.

PTTEP has established itself as a leader in high performance and sustainability. Through its digital and AI-driven innovations, the company has optimised costs, increased production, and enhanced operational efficiency, thereby reinforcing its commitment to excellence and resilience.

The Asian Oil & Gas Awards recognises the most outstanding players in Asia’s oil and gas sector. The awards programme is for companies that have overcome various challenges and remained steadfast despite a very challenging environment. It further honours those with successful strategies and initiatives in adapting to the new reality, and those that push for digital transformation and have risen above the hurdles.

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 2025 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 danica@charltonmediamail.com.