PTTEP to fund CCS offshore Thailand
Key Highlights
- PTTEP reached a final investment decision on a carbon capture storage project in the Gulf of Thailand.
- Operations are expected to start in 2028 with ultimate storage capacity of 1 million tpy of CO2.
PTTEP reached a final investment decision (FID) to develop a carbon capture and storage project (CCS) at Arthit gas field in the Gulf of Thailand, 230 km offshore, the company said in a release Sept. 8.
Carbon storage operations at the Arthit CCS project are expected to start in 2028. Storage capacity will gradually ramp to about 1 million tonnes/year (tpy) of CO2, in line with government policy under the Nationally Determined Contribution (NDC) Action Plan on Mitigation 2021–2030.
PTTEP has selected storage sites in reservoirs at depths of 1,000–2,000 m and devised a comprehensive measurement, monitoring, and verification (MMV) program. PTTEP will use existing infrastructure in the field and will construct and install additional infrastructure as required. The development will not impact natural gas production at the field, the company said.
The 5-year investment is estimated at about $320 million. The Arthit CCS project will serve as a pilot for building expertise and CCS adoption in Thailand, including the Eastern CCS Hub in the Northern Gulf of Thailand, the company said.