Business Sustainability

Management Approach

Corporate strategy (Execute and Expand)

PTTEP follows through its 'Execute & Expand' strategy in enhancing the Company's competitiveness, promoting sustainable growth and preparing for future challenges within the energy industry.

Execute Expand
Create added value from existing assets with an emphasis on the production volume of key assets while also accelerate the development of major overseas projects to ensure timely production start-ups.
Emphasize investment in Thailand, Southeast Asia and the Middle East. (Coming-Home Strategy).
Continually maintain production cost at a competitive level through digital technology and enhanced operational efficiency.
Drive LNG value chain with a focus on upstream and liquefaction plants
Efficiently operate Bongkot, Erawan and new fields acquired in the transitional period.
Explore investment opportunities with experienced partners (Strategic Alliance)
Build superior growth for AI and Robotics Ventures (ARV) by accelerating Go-to-Market activities
Seek opportunities in Power Business – Gas to Power, LNG to Power and Renewable Energy in Vietnam and Myanmar
Explore opportunities in New Business – In-house Technology Commercialization, Carbon Capture and Utilization (CCU) and Future Technology e.g. Hydrogen

Progress of business strategies is disclosed in Quarterly Filing (Management Discussion and Analysis - MD&A) by Investor Relations (Click here to access the information).

Business performance

1. Investment Returns

  • Return on capital employed (ROCE) was at 5.37% as expected, higher than the 2019 industry average.
  • Unit cost was at USD 30.50 per barrel of oil equivalent (BOE), being at a competitive level against other players in Asia's petroleum E&P industry.

2. Business sustainability

  • Production growth rate at 2% as a consequence of the COVID-19 outbreak and low oil price.
  • Proved reserves-to-production ratio (R/P Ratio or 1P/Production) stayed at 7 years, higher than the minimum 5-year goal.
  • Natural gas production accounted for 70% of total production volume in 2020.

On top of these, PTTEP gave importance to the disclosure of financial performance, sustainability-related performance and other significant information, to equip shareholders and investors with sufficient information in an accurate, speedy, timely and equitable manner. The Investor Relations is responsible for the disclosure. Click here to access the information.