PTTEP Names New CEO

Thai oil company PTTEP has appointed its President Montri Rawanchaikul as the new Chief Executive Officer (CEO) and Director.

He will replace Phongsthorn Thavisin who will end his roles with PTTEP on September 30, 2021.

The appointment of the new CEO and Director will be effective from October 1, 2021 onwards, PTTEP said Monday. The decision was made at a Board of Directors Meeting on August 20, 2021.

While PTTEP initially did not provide the reasons behind the CEO change, a PTTEP spokesperson eventually told Offshore Engineer that "the change has come due to the retirement of Mr. Phongsthorn Thavisin."

In a document describing the new CEO's plans, PTTEP said that Rawanchaikul, 57, plans to strengthen the petroleum exploration and production business "to ensure sustainable development for national energy security to overcome challenges of Digital Disruption and Energy Transition by focusing on Environmental, Social and Governance (ESG)."

The vision is also for PTTEP to become a major natural gas producer in Southeast Asia, fully explore and rapidly develop newly discovered fields to increase production, and continuously grow the Middle East joint venture portfolio.

Further, he plans to drive Carbon Capture Utilization and Storage (CCUS) to reduce greenhouse gas emissions and lay the foundation for the Net Zero Carbon Emission target.