PTT Public Company Limited (SET: PTT) President & CEO Kongkrapan Intarajang announced that PTT has signed an agreement to purchase an additional 50 million cubic feet per day (MMcf/d) of natural gas from the Arthit field.
This deal raises the total gas production from the Arthit field to 330 MMcf/d, helping reduce Thailand’s reliance on imported Liquefied Natural Gas (LNG) and strengthening the nation’s energy security sustainably.
Meanwhile, the PTT Group is also developing a Carbon Capture and Storage (CCS) project, designed to capture and store carbon dioxide from the Arthit field.
PTT Exploration and Production Public Company Limited (SET: PTTEP) further reported that the Arthit project has exceeded its contractual gas production targets. Continuous drilling of additional wells is underway to increase production capacity, and negotiations with PTT for further gas sales contracts are ongoing.
Under the new deal, gas production under the sales contract will rise from 280 MMcf/d to 330 MMcf/d.
As for key progress in greenhouse gas reduction and new business avenues to facilitate the energy transition, the CCS project at the Arthit gas field in the Gulf of Thailand has completed its Front-End Engineering Design (FEED) work. The project is currently in discussions and preparatory stages, aiming for a final investment decision (FID) within this year.
Additionally, the Carbon Capture and Storage project in Thailand’s Eastern region (CCS Hub) is now planning seismic acquisition activities to study the potential for carbon dioxide storage in the Upper Gulf of Thailand. The findings will help guide future development strategies for CCS projects across Thailand.
