Thaioil and GPSC sign the sales and purchase agreement on Energy Recovery Unit (ERU).

Recently, Thai Oil Public Company Limited by Mr. Atikom Terbsiri (2^ndfrom left), Chief Executive Officer and President, Thai Oil Public Company Limited signed the sales and purchase agreement with Mr. Chawarit Tippawanich (2^nd from right), President and Chief Executive Officer, Global Power Synergy Public Company Limited (GPSC). It was with great honor to have Dr. Siri Jirapongpan (center), Minister of Energy presiding over the ceremony and witnessed by high ranking executives from Energy Ministry and PTT Group. The ceremony was held at Synergy Hall, Energy Complex C, Bangkok. The contract worths USD 757 million.

Energy Recovery Unit, a part of the CFP project of Thaioil, generates power and steam with high technology and environmental friendly by using petroleum pitch from oil refinery as main fuel. GPSC’s investment in ERU will help to reduce investment burden of Thaioil on the CFP project by 15% whilst supporting Thaioil’s financial status and improving its flexibility to effectively invest in other new projects in the future.

Photo Shows (from left): Professor Dr. Thosaporn Sirisumphand, Chaiman of the Board, Thai Oil Plc;            Mr. Atikom Terbsiri, Chief Executive Officer and President, Thai Oil Plc; Mr. Chansin Treenuchagron, President and Chief Executive Officer, PTT Plc; Dr. Siri Jirapongpan, Minister of Energy; Mr. Kulit Sombatsiri, Permanent Secretary of the Energy Ministry; Mr. Chawarit Tippawanich, President and Chief Executive Officer, GPSC Plc; Mr. Supattanapong Punmeechaow; Director and Chairman of the Board; GPSC Plc

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Thaioil is Thailand’s largest refinery and supplier of petroleum products. Founded in 1961, we operate one of the most efficient refineries in Asia Pacific with the current capacity of 275,000 barrels per day.

Thaioil operates under the Operational Excellence principle, operating as an integrated group of businesses in oil refinery, petrochemicals and lube base oil with supporting businesses, e.g. power generation, solvents, logistics and renewable energy generation, LAB : an intermediate in the production of surfactants, marine and pipeline transportation and storage services of crude, petroleum and petrochemical products, as well as recruitment services for Thaioil and Subsidiries. Thaioil leads the Thai refinery industry through a well-planned and integrated production process, yielding optimum efficiency. Our products are of high quality, rated in the top quartile of refineries in Asia Pacific, at lower production costs – giving Thaioil a recognized competitive advantage.

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