The debate over whether Carbon Capture and Storage, or CCS has proven the most effective solution to carbon footprint reduction for businesses and for preventing climate change volatility in order to meet 2050 deadlines, urges many large corporates to take part as advocates of decarbonisation through this technology.
While reforestation is the best option for all to revitalise purified air and is less expensive for many businesses to take the initiative to battle the crisis, in-depth expertise in ecology is required to complete the mission successfully, let alone in the urban context and the need for appropriate land for forestry.
For the petroleum industry, the ideal solution for decarbonisation is termination of fossil fuels. As humans must rely on traditional fuels for many years to come, the emergence of increasing EV users is a prominent sign of global climate recovery.
As Thailand’s leading petroleum exploration and production company with expertise through its exploration and production over decades, PTT Exploration and Production Public Company Limited or PTTEP has implemented Thailand’s first Carbon Capture and Storage (CCS) project for carbon sequestration and permanent storage with strong aspiration to fight against climate change.
PTTEP established EP Net Zero 2050 to achieve Net Zero Greenhouse Gas Emissions by 2050. The target covers direct and indirect greenhouse gas emissions (Scope 1 & 2) under PTTEP’s operational control through “Exploring for Lower Carbon E&P Portfolio” and “Production and Planet in Balance” frameworks.
From 2020 base year, PTTEP aims to reduce the intensity of GHG emissions by 30% within 2030 and 50% within 2040 and finally reach Net Zero Greenhouse Gas Emissions within 2050. So far, PTTEP has achieved the previous target of 25% GHG intensity reduction in Q1/2022 from 2012 base year, which is about 3 MM Tonnes of CO2e reduction in accumulation, equivalent to one-year CO2 sequestration of 3.15 MM Rais of medium-sized slow-growing native trees*, which is eight years ahead of the set target in 2030.
*Note: Based on CO2 sequestration of medium-sized slow-growing native trees in Plant Potential Guideline (2011) by Thailand Greenhouse Gas Management Organization (Public Organization): TGO
PTTEP is gearing up to develop Thailand’s first Carbon Capture and Storage (CCS) project at Arthit project which is the key technology to help us to achieve these decarbonization targets. For this project, the CO2 will be captured with high concentration over 95%, compressed, and transported to the injection platform. The compressed CO2 is injected in the specific saline aquifers and depleted reservoir for permanent storage. In implementing the Arthit CCS project, Thailand is expected to achieve 700,000-1,000,000 tonnes per annum of CO2 emission reduction. The fully integral CCS trajectory is set for implementation in 2026.
The CCS project is potentially achieved by PTTEP’s high geoscience expertise and engineering experience supporting infrastructure and storage drilling. Collaborations from other related networks are currently underway to support Thailand’s CCUS (Carbon Capture Utilisation and Storage) Technology Development Consortium to reinforce Thailand’s Carbon Neutrality and Net Zero goals.
“Carbon Capture and Storage (CCS) will be the key technology to combat climate change. I strongly believe in PTTEP’s upstream capability that can materialize CCS projects, contributing to making the world a better place for future generations.” said Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP).
PTTEP has allocated a budget for CCS project development. The challenging prospects entailing project success include the CCS policy, regulations, investment promotion, etc.
Following the CCS project, PTTEP has extended its studies on captured carbon utilization as the green value-added petroleum intermediates and products.
Through the Bio-Circular-Green (BCG) Economy Model, the captured CO2 can be converted into various applications such as high-value materials, aviation fuel, chemicals, etc.
Apart from solutions stemming from the company’s exploration and production expertise, PTTEP has utilized technologies from its subsidiary - AI and Robotics Ventures (ARV) to support environmental sustainability through various projects such as the use of multispectral drone to track change for large scaled green area at Khung BangKachao and monitor ecosystem and coral reefs in Koh Mannai in Rayong Province to support the net zero journey of PTTEP and Thailand.
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