PTTEP CEO wins Asian Management Excellence Awards | Asian Business Review

PTTEP CEO wins Asian Management Excellence Awards

The CEO has reinforced the company’s core business whilst addressing climate change concerns.

Montri Rawanchaikul, CEO of PTT Exploration and Production Public Company Limited (PTTEP), Thailand’s national petroleum exploration and production company, received the Thailand Executive of the Year Award – Oil & Gas category, at the inaugural Asian Management Excellence Awards for his decisive leadership that has driven the company towards its current strategic direction, propelling the company towards success.

With over three decades of experience in the sector, Rawanchaikul has played a pivotal role in establishing PTTEP's presence in the Middle East, overseeing significant expansion in the region while also strengthening the management of producing assets in Thailand and Malaysia to ensure the continued growth of the countries where PTTEP operates.

Since becoming CEO in 2021, Rawanchaikul has strengthened PTTEP’s core exploration and production business while actively addressing the climate change agenda. Under his leadership, PTTEP announced its target to achieve Net Zero Greenhouse Gas (GHG) Emissions by 2050 through the “EP Net Zero 2050” concept: a dual approach to transform PTTEP into a low-carbon organization, to meet the global issues of growing energy demand while addressing the continued needs for more affordable and cleaner energy.

Additionally, Rawanchaikul has been instrumental in the establishment of a strategic framework through which PTTEP can continue to ensure a secure and affordable supply of energy and address its preparedness for the future energy transition: 1. Drive Value – strengthening the petroleum exploration and production business and maximizing the value of existing assets, as well as continued expansion in core strategic areas, 2. Decarbonize – reduction of Greenhouse  Gas emissions throughout operations to achieve Net Zero by 2050, and 3. Diversify – expansion into new businesses such as AI & Robotics and capturing opportunities in clean energy and future energy. Under his leadership and supervision, PTTEP made significant progress in all areas.

Regarding Greenhouse Gas Emissions, PTTEP has an accumulated GHG reduction of approximately 3 million tonnes of CO2 equivalent from the base year 2020. This was achieved through E&P portfolio management, production well management and various initiatives to reduce GHG emissions such as flare gas recovery and utilization, production efficiency enhancements and utilization of renewable energy in operations.

PTTEP initiated a study on Thailand’s first Carbon Capture and Storage (CCS) project at Arthit Field in the Gulf of Thailand. Most recently, the Front-End Engineering Design (FEED) was completed. PTTEP expects to execute CCS technology at Arthit Field in 2027 which will significantly reduce emissions from its petroleum production process, expecting to reduce CO2 emissions by approximately 700,000–1,000,000 tonnes per year. A CCS project study is concurrently taking place at Lang Lebah Field, in Block SK410B, a huge gas field discovered by PTTEP in Malaysia.

Moreover, PTTEP joined a consortium with PTT Group to conduct a feasibility study on the application of CCS under the concept of Eastern Thailand CCS Hub, which will eventually be a large-scale CCS plant that supports long-term decarbonization of domestic industrial clusters along the East Coast, particularly in the Eastern Economic Corridor (EEC). The Eastern Thailand CCS Hub will become part of a national decarbonization infrastructure that can materially reduce industrial emissions and lead Thailand to future opportunities in a low-carbon economy. PTTEP will also conduct a joint study with INPEX CORPORATION on the Northern Gulf of Thailand CCS Exploration project under an international collaboration between the Thai Department of Mineral Fuels (DMF) and Japan Organization for Metals and Energy Security (JOGMEC). The outcome of the CCS study at EEC, Arthit Field, and Northern Gulf of Thailand CCS Exploration project will increase knowledge on the geological storage capacity and this knowledge will help Thailand meet its Net Zero greenhouse gas emissions target by 2065. In 2023, the operational start-up of the “Lan Sang Arun” project is the first instance in Thailand where solar power has been deployed to support petroleum production activities. This initiative reduces COemissions by approximately 13,000 tonnes per year.

For new business, in 2023, PTTEP as part of a consortium won concession Block Z1-02, a large-scale green hydrogen project located in the Sultanate of Oman. The project is expected to commence production in 2030 with a projected capacity of approximately 220,000 tonnes per year, an important stepping stone towards becoming a low-carbon organization. In addition, PTTEP acquired a 25.5% stake in the Seagreen Offshore Wind Farm project, Scotland's largest offshore wind power plant. This strategic investment will generate immediate revenue for the company and promote potential collaborations on clean energy projects with prominent energy companies in the future.

Besides, in accordance with PTTEP’s 3D strategic framework, Rawanchaikul also places great importance on enhancing people's capability while fostering positive employee experience and well-being initiatives in the workplace. This includes an employee engagement program, financial consultant program, mental and physical health program, and team building program. These programs have been beneficial in driving organization-wide improvements, ensuring that every individual’s voice is heard and valued.

The exceptional work of Rawanchaikul has contributed to strengthening the company’s core E&P business, while shaping the country’s energy landscape through building people capability and collaboration and readying itself for a journey that reaches far beyond fossil fuels and into a realm of endless possibilities, paving the way for a sustainable future where energy is cleaner, secure, and affordable.

Asian Management Excellence Awards celebrate the finest business leaders, innovators, and companies in Asia, and commend exceptional achievements in various aspects of operations, including employee engagement programs, diversity, and inclusion projects, as well as health and wellness initiatives.

The Asian Management Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Jane Patiag at [email protected].

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