PTTEP's 'Ocean for Life' strategy, driven by its offshore operations, aims to achieve a net-positive impact on ocean biodiversity and ecosystem services value for all offshore operations (from base year 2019), increase community income by 50%, and establish 16,000 conservation networks by 2030. This initiative aligns with Thailand's Ocean Health Index target and SDGs 14 (Life Below Water), 3 (Good Health and Well-being) and 13 (Climate Action). The strategy is structured around three workstreams:
- Sustainable Ocean-Friendly Operation: PTTEP aims to minimize environmental footprints across operational sites, and achieve zero produced water discharge to the environment. Advanced technologies, including autonomous underwater vehicles, contribute to safe and cost-effective underwater maintenance, thereby safeguarding marine ecosystems.
- Sustainable Ocean Health and Blue Carbon Solutions: Initiatives, in collaboration with universities and government agencies, include an ocean data platform, microplastics monitoring, and feasibility studies of carbon absorption by seagrass, seaweed, and seashells . PTTEP also deploys current mapper buoys, contributing valuable data for ocean conservation and emergency planning.
- Sustainable Community around the Ocean: PTTEP expands social development projects across 17 provinces around the Gulf of Thailand, promoting biodiversity, restoring resources, and building conservation networks. Initiatives such as aquatic animal hatchery centres, coastal conservation areas and fish homes, as well as sea product development empower local communities, generating sustainable income and promoting economic development.
The comprehensive implementation of these workstreams has resulted in a 68% progress toward a net-positive impact on ocean biodiversity and ecosystem services value, a 40% increase in community income, and the establishment of 5,795 community networks in 2023. PTTEP's initiatives not only support SDGs but also contribute to Thailand's decarbonization targets by promoting biodiversity and carbon sinks.
