PTT adds consulting services arm
PTT Plc is diversifying into engineering technical consulting services to tap into growing demand for energy solutions.
The services will cover quality control, how to upgrade energy efficiency, increase production yields and optimise equipment and machines, said chief operating officer Prajya Pinyawat.
The services will be provided by newly established PTT Energy Solution (PTTES), in which PTT controls a 40% stake and three affiliates _ Thai Oil, PTT Aromatics and Refining, and IRPC _ 20% each. The official registration process should be finalised next month.Initial registered capital of the new company is 150 million baht.
All shareholders will sign a technical services agreement soon to supply human resources. PTT is now recruiting employees for PTTES, mainly technicians and engineers.
With an initial staff of 200, the company is expected to start operation sometime in the second half of the year.
“PTTES will provide consulting based on international standards for PTT Group companies for the first three years, expanding to other companies after that,” said Mr Prajya.
The PTT group pays more than US$10 million for energy solution services per year, with expenses rising every year. Most of the service providers to the group are global leaders in energy consulting, such as Shell Global Solution, ExxonMobil, UOP and KBC.
“This new business unit will enable the group to not only utilise our existing qualified employees, but also tap into the growing demand for energy services in the local market.”
PTTES is also a part of the group’s cost-control programme, under which it expects to save more than 3 billion baht each year.
In the first few years, the new unit will focus on oil, gas and chemical plants, he said. In the longer term, PTTES will be upgraded to a major research and development centre dedicated to innovative technology.
Source: http://www.bangkokpost.com/business/economics/237725/ptt-adds-consulting-services-arm
