PTT Exploration and Production Public Company Limited (The Petroleum Development Support Base)

2024

Top Community Centric Companies in Asia

PTT Exploration and Production Public Company Limited (The Petroleum Development Support Base)

Top Community Centric Companies in Asia

2024

ABOUT PTT Exploration and Production Public Company Limited (The Petroleum Development Support Base)

Marine Conservation Success

“Marine conservation success by PTTEP revitalizes local fisheries and boosts community incomes.”

PTT Exploration and Production Public Company Limited (“PTTEP”) was established in 1985 as the exploration and production arm of Thailand’s national oil and gas company, PTT Public Company Limited. PTTEP operates in petroleum exploration, development, and production, with additional ventures in renewable energy, advanced technology, and environmental conservation. Currently, PTTEP is engaged in over 50 projects across 17 countries, aiming to ensure energy security and support sustainable development.

The company’s strong focus on community engagement is evident in its “Fish Home” initiative, launched in 2017 in the Gulf of Thailand and Songkhla Lagoon. This project addresses the degradation of marine biodiversity by installing artificial fish homes to create safe breeding grounds for marine species. As a result, the initiative has boosted the population of various aquatic species, increased the yield of local fisheries, and improved the overall quality of life for communities relying on fishing as their primary source of income. The project is closely aligned with PTTEP’s core business operations, as it simultaneously benefits the environment and supports sustainable economic activities.

The “Fish Home” project was developed by the Petroleum Development Support Base, Songkhla of PTTEP in collaboration with multiple stakeholders, including local communities, the Department of Marine and Coastal Resources, and academic institutions such as the Rajamangala University of Technology Srivijaya. This collaborative effort has enabled PTTEP to effectively address the needs of local communities while preserving the marine ecosystem. Since the project’s inception in 2017, PTTEP has installed fish homes in nine districts across two provinces—Songkhla and Nakhon Si Thammarat. As of 2023, the project’s reach extended to over 40 conservation networks, involving more than 1,000 participants and benefitting 512,000 residents.

The impact of the “Fish Home” initiative on local communities has been substantial. According to research conducted in 2020, the production of crabs, fish, and giant freshwater prawns has increased significantly, with a rise in average income per family. For example, the return on investment (ROI) for crabs increased from 2.35 to 28.93, while for prawns, it rose from 2.86 to 30.41. This surge in productivity has contributed to a threefold increase in income for participating families. Furthermore, the project has positively influenced various aspects of community life, such as work-life balance and social relationships, as fishermen spend less time offshore and have more opportunities to engage in community activities.

In addition to the “Fish Home” project, PTTEP and its Petroleum Development Support Base supports various communities in 4 themes development initiatives that fulfill the community’s basic needs, education, environment, and cultural preservative. This initiative provides PTTEP knowledge sharing to communities fostering sustainable social development in Thailand. PTTEP also shares extensive knowledge, data, and resources with educational institutions in some educational programs to help build a skilled workforce equipped with practical experience that can contribute to the country’s energy and resource management sectors in the future. PTTEP educational program also aims to create a collaborative learning environment that bridges academia and industry.

PTTEP’s community engagement is not limited to environmental projects. The company actively invests in the welfare and development of local communities, emphasizing the importance of creating socioeconomically self-sufficient societies. PTTEP’s efforts are guided by a strategic sustainability framework that aligns with the United Nations Sustainable Development Goals (SDGs). As part of its commitment to environmental sustainability, PTTEP aims to achieve net zero greenhouse gas emissions by 2050. As of 2024, PTTEP has already reduced its cumulative greenhouse gas emissions by over 3.22 million tonnes of carbon dioxide equivalent compared to its base year of 2020.

Overall, PTTEP’s initiatives demonstrate its commitment to community enrichment and environmental stewardship. Through strategic partnerships, sustainable practices, and innovative projects like the “Fish Home” initiative, PTTEP continues to create value for its stakeholders while contributing to the wellbeing of the society at large.

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