Press Releases

PTTEP reports progress regarding the procurement with Rolls-Royce

24 Feb 2017

Bangkok 24 February 2017 - Somporn Vongvuthipornchai, President and Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP) stated that after the Company had set up the fact-finding committee to investigate the procurement of equipment and service with Rolls-Royce, presently the committee’s works had reached a 30-day milestone on 20 February 2017. The committee had submitted the information to PTT Public Company Limited (PTT) in order to incorporate all the facts and report to the Office of National Anti-Corruption Commission (NACC). The Company is ready to cooperate with NACC and will take legal and disciplinary action on anyone found guilty in this matter.

In addition, the Company has sent official letters to request additional information from the Rolls-Royce Company and the United States Department of Justice, but has not received any feedback yet.

The Company has developed and implemented various anti-corruption procedures and guidelines as a preventative measure against corruption risk such as; Vendor List registration, Guideline on Third Party Anti-Bribery and Corruption Due Diligence, Vendor Sustainable Code of Conduct to encourage all qualified vendors to sign and comply with the Company’s rules and regulations, random review of possible conflicts of interest among the related persons in the procurement process, assessment of procurement and the Whistleblowing Reporting system for both internal and external parties. The Company also encouraged its suppliers to participate in the certification process of Thailand’s Private Sector Collective Action Coalition against Corruption (CAC), as well as maintaining the best practices on anti-corruption in order to create a good business culture that is transparent and corruption-free to ensure the effectiveness and transparency of the Company’s operations and procurement systems.

For more information, please contact Media Management Section
Tongchit Pongorapin Tel. +66 (0) 2537 4587
Kamolwan Chintarat Tel. +66 (0) 2537 4381

The information, statements, forecasts and projections contained herein reflect the Company’s current views with respect to future events and financial performance.   These views are based on assumptions subject to various risks.   No assurance is given that these future events will occur, or that the Company’s future assumptions are correct.   Actual results may differ materially from those projected.