PTT Exploration and Production Public Co Ltd announced Monday a positive FID (final investment decision) for Thailand’s first carbon capture and storage (CCS) development, targeting first injection in 2028.
Earmarked THB 10 billion ($320 million) over five years, the Arthit field CCS project is planned to have a carbon dioxide storage capacity of one million metric tons a year, to be gradually achieved.
The project will leverage existing infrastructure at the producing field and build new facilities. It will not impact Arthit’s natural gas production, according to the state-owned oil and gas company.
“PTTEP has conducted extensive studies and assessments in preparation for the project, covering the entire process – from storage site selection with reservoirs at depths of 1,000-2,000 meters, to engineering design, and comprehensive measurement, monitoring and verification programs”, PTTEP said in a statement on its website.
“The Arthit CCS Project has been endorsed as one of Flagship Projects for greenhouse gas emissions reduction under the NDC Action Plan, with an approved direction for the government to consider measures and granting of appropriate investment support such as tax incentives”, PTTEP said.
The Southeast Asian country aims to cut its greenhouse gas emissions by 30 percent relative to 2025 by 2030, according to its Nationally Determined Contribution (NDC) submitted to the United Nations, updated 2022.
“The Arthit CCS Project will serve as a pilot for cultivating expertise and driving CCS adoption in Thailand, including the Eastern CCS Hub in the Northern Gulf of Thailand, which has potential to make material contribution to the country’s Net Zero target and enhance the nation’s long-term economic competitiveness”, said chief executive Montri Rawanchaikul.
In December 2023 PTTEP signed an agreement to conduct a study with the Japan Organization for Metals and Energy Security (JOGMEC) and INPEX Corp on the carbon storage potential of the Northern Gulf of Thailand. The research, under a partnership between the Thai Department of Mineral Fuels and JOGMEC, serves to provide insights for a prospective development that would serve industrial emitters in the Eastern Economic Corridor.
In July 2022 PTTEP announced the formation of Thailand’s CCUS Technology Development Consortium, led by Chulalongkorn University.
In June 2022 PTTEP announced a partnership with PTT Group companies for a feasibility study on a potential Eastern Thailand CCS Hub. The study kicked off in PTT Group’s operational seaboard sites in the provinces of Chonburi and Rayong. The hub would reduce emissions from PTT Group and nearby industries.
Overseas, a study is being conducted for CCS potential at the Lang Lebah field in Malaysia, discovered by PTTEP.
To contact the author, email jov.onsat@rigzone.com
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