PTTEP profit in 2023 amounted to 76,706 million baht.

Bangkok, PTTEP reveals its operating results for 2023 are successful as planned with a net profit of 76,706 million baht and delivered over 54,280 million baht of revenue to the government, moving forward with the 2024 plan with a budget of 230,194. Million baht (equivalent to 6,721 million US dollars) Mr. Montree Lawanchaikul Chief Executive Officer of PTT Exploration and Production Public Company Limited or PTTEP revealed that in the past year The company has been successful in doing business both domestically and abroad. By the survey side The Company has won the 24th round of bidding for petroleum exploration and production blocks in the Gulf of Thailand in Block G1/65 and Block G3/65, both of which are close to the Company's projects which are already in operation. Therefore, the project can be developed more quickly. To support future energy demand, it will also expand its growth base in Malaysia. from receiving the right to explore and produce additional new petroleum blocks in the SK 325 exploration block, including the discovery of 3 new petroleum fields off the coast of Sarawak. from the Chenda-1 exploration well, the Bangsavanh-1 exploration well, and the Babadon-1 exploration well. which can plan to expedite the development of discovered fields in the form of clusters to start petroleum production more quickly In 2023, it was the year that PTTEP began expanding its operations into the clean energy business. According to the strategic plan to support the energy transition and create sustainable growth. It has received rights to develop a large-scale green hydrogen production project in concession block Z1-02 in the Sultanate of Oman. and the acquisition of a 25.5% stake in the Seagreen Offshore Wind Farm project, the largest offshore wind farm in Scotland. It can generate income for the company immediately, including starting the solar power production project "Lan Saeng Arun" in Phitsanulok Province. To use electricity from renewable energy in petroleum production at the S1 Project, helping to reduc e electricity production from natural gas and reduce greenhouse gas emissions. In terms of operations towards the goal of reducing greenhouse gas emissions to net zero by 2050 (Net Zero Greenhouse Gas Emissions by 2050), PTTEP has reduced cumulative greenhouse gas emissions by approximately 2.47 million tons of carbon dioxide. Equivalent from the base year 2020 through management of low-carbon petroleum exploration and production projects. Proper well management and create various greenhouse gas reduction projects, such as reusing excess gas from the petroleum production process. Manufacturing Process Improvement Increasing energy efficiency and the use of renewable energy, etc. In addition, PTTEP has signed a memorandum of understanding to join the oil and gas industry methane cooperation project (The Oil and Gas Methane Partnership 2.0 or OGMP 2.0) under the project. United Nations Environment Program (UNEP) and signed the charter of the oil and gas industry group at COP28 together with 52 founding compani es. It aims to reduce methane emissions and eliminate excess emissions. which is caused by the petroleum production process under normal operating conditions to be as close to zero as possible by 2030 For the financial performance of 2023, PTTEP has total income of 315,216 million baht (equivalent to 9,057 million baht). Millions of US dollars (US$) decreased by approximately 6% compared to 2022, with an average petroleum sales volume of 462,007 barrels of oil equivalent per day. Similar to the previous year Meanwhile, the average product selling price is 48.21 US dollars per barrel of crude oil equivalent. decreased by approximately 10 percent following the price of crude oil in the world market. However, the company had expenses from items that were not normal operations. (Non-operating items) decreased, such as oil price hedging. Recording impairment of assets (Impairment), etc., results in a net profit in 2023 of 76,706 million baht (equivalent to 2,208 million US dollars). This is approximately 40 perce nt of the said net profit. Comes from projects invested abroad throughout Southeast Asia. and Middle East Net profit from such operations It is an important part that the company will use in investing in developing various projects according to the 2024 plan, which has a budget of 230,194 million baht (equivalent to 6,721 million US dollars), with plans to increase natural gas production from the G project. 1/61 (Erawan, Plathong, Satun and Funan fields) to reach 800 million cubic feet per day in April. Ready to maintain gas production capacity from the G2/61 project (Bongkot field), Arthit project and the Thai-Malaysia joint development area project, as well as accelerating petroleum exploration in Thailand and abroad. Support future energy use. This year, PTTEP has set a goal to increase petroleum production. Another 9 percent came to a rate of 505,000 barrels of oil equivalent per day. In addition, PTTEP has reserved an additional Provisional Budget of 67,822 million baht (equivalent to 2,022 million US d ollars) over the 5-year period (2024 - 2028) to develop various forms of clean energy as well In the past year 2023, PTTEP sent revenue to the government in the form of income tax, royalty and other benefit sharing in 2023 in the amount of 54,280 million baht as part of the country's development in various fields. such as community development, education, and research and development, etc. In addition, the share of petroleum output from G1/61 and G2/61 projects which are under production sharing contracts (PSC) is also direct income from petroleum production. which the government has also used for the development of the country From the results of such operations The Company has approved the payment of dividends for 2023 to shareholders at 9.50 baht per share, representing a dividend payout ratio of 48.9 percent, for a total dividend of 37,715 million baht, which has been paid for the first 6 months at the rate. 4.25 baht per share on August 29, 2023. The remaining 5.25 baht per share will be paid on April 22, 2024 after approval from the 2024 Annual General Meeting of Shareholders, which is part of the said dividend. It will be sent to the Ministry of Finance through its shareholding in PTT Public Company Limited, which is the major shareholder of PTTEP, for the development of the country as well. Develop clean energy Develop knowledge of Thai companies for future energy as PTTEP expands investment in clean energy business. Both green hydrogen development projects in the Sultanate of Oman The offshore wind power plant project in Scotland, as well as joint study of the CCS project with leading world-class companies, are not only business expansions. It is also an opportunity to study and learn about the development of new energy technologies of the future, including technology to help reduce global warming problems. This will strengthen PTTEP, a Thai company, with more experience and expertise. To bring that knowledge to use in the development of various clean energy projects in the future to create energy sec urity for the country. And it is also part of supporting the country's net zero greenhouse gas emissions goal. Source: Thai News Agency