PTT Exploration and Production (PTTEP), Thailand’s national oil and gas company, revealed its goal to achieve net-zero greenhouse gas (GHG) emissions by 2050.
TT Exploration and Production Public Company Limited (PTTEP), held the 2022 Annual General Shareholders’ Meeting (AGM) on March 28, 2022 to acknowledge 2021 performance and new business plan. It is resolved that the meeting approved the dividend payment for the year 2021 at the rate of 5 Baht per share.
As described, PTTEP also announced the target and plan to achieve Net Zero Greenhouse Gas Emissions by 2050 with the EP Net Zero 2050 concept. New projects with an emphasis on natural gas and greenhouse gas intensity will be factored into the investment decision-making process.
It is informed that PTTEP will pursue the development of technology to reduce greenhouse gas emissions from the production process in particular Carbon Capture and Storage (CCS) and Zero Routine Flare initiative for new projects.
In addition, the company will focus on emissions offsetting through the planting of trees in forests and mangroves to increase the natural carbon sink.
Regarding AGM, PTTEP had strictly implemented the preventative measures against COVID-19 and continually conducted the sustainable event to optimize the use of resources and to minimize the environmental impacts including reducing print documents and non-composable wastes, and managing waste segregation. This aimed to conserve the environment as well as enhance sustainability of natural resources.