PTT begins capital push for first-ever tech upgrade

PTT begins capital push for first-ever tech upgrade

PTT Plc, the national oil and gas conglomerate, is planning to allocate capital for digital technology infrastructure for the first time in its history.

Mr Chansin says PTT's culture needs to adapt. KRIT PROMSAKA NA SAKOLNAKORN

Chansin Treenuchagron, the chief technology and engineering officer, said digital technology has transformed and disrupted many sectors over the last few years, such as media, telecommunications and banking.

Even the energy sector cannot avoid the disruption, he said.

"As global warming becomes a concern, with high CO2 emissions from oil and gas, electric vehicles and renewable energy are replacing fossil fuels," said Mr Chansin.

"PTT is setting up a budget for digital technology infrastructure, to be spent over the next five years while the group revises its annual capital expenditures," he said.

Mr Chansin is scheduled to become the next chief executive of PTT on Aug 31.

Last year, PTT set combined capital expenditure at 1.6 trillion baht for 2018-22, but a budget for digital infrastructure has never been included because PTT regards it as a general expense annually.

The digital budget will be allocated as a percentage of PTT's net profit in each year, which is similar to the budget for R&D activities, that see 3% of annual net profit.

PTT's board of directors expects to approve the digital budget by December.

Mr Chansin said the new technology will play a crucial role for all business operators in this digital era, thus, PTT's culture needs to adapt to digital culture while its organisation's working model should also move towards globalisation.

He said PTT's services and products will require more connectivity and convenience without any limits on time and emplacement. PTT must be able to quickly meet all needs as well as stay in line with the Thailand 4.0 initiative.

PTT's new move is a collaboration with nine local commercial banks to facilitate payment and money transfer through QR codes.

PTT has adjusted its work culture to be more modern and responsive to recent business trends. The progress applies to the digital transformation of ideas via Internet of Things, so when all applications are connected, easy control via the internet network is enabled.

Internal digital communication will enable fast and efficient collaboration among its employees and precise work assessments that reflect the needs of younger employees.

Employees can also check on real-time work status, stay connected with their peers, and retrieve information from anywhere through applications.

Mr Chansin said a crucial point for the success of the recent changes is the readiness of human resources that can adapt quickly to the digital era.

Do you like the content of this article?

Two Thai doubles pairs survive at World Tour Finals

Two doubles pairs from Thailand have advanced to the semi-finals of the HSBC BWF World Tour Finals following a busy day at Nimibutr Stadium in Bangkok on Friday.

9 Dec 2022

Army hospital first stop for freed athlete Griner

American basketball star Brittney Griner arrived back in the United States on Friday morning after being released from a Russian prison in exchange for Victor Bout, an arms dealer known as the “Merchant of Death”.

9 Dec 2022

Second move

Graft busters petition court to sack suspended cabinet minister and accused land encroacher Kanokwan Vilawan and ban her from politics for up to 10 years.

9 Dec 2022