14 March 2023

Bangchak Welcomes Thai Ambassador to Norway to OKEA ASA’s Draugen Oil Field in the Norwegian Sea

A Bangchak Group’s business in a country renown for one of the best environmental standards in the world

Gloyta Nathalang, Executive Vice President, Corporate Branding, Communication and Sustainability Activation, Bangchak Corporation Public Company Limited, and Svein J. Liknes, Chief Executive Officer, OKEA ASA welcomed H.E. Ms. Vimolbajra Ruksakiati, Ambassador of Thailand to Norway, and delegates on their visit to the OKEA ASA’s Draugen oil field in the Norwegian Sea. OKEA ASA is a developer and operator of oil and gas fields listed in the Oslo Stock Exchange, and an upstream business under Bangchak Group’s Natural Resource and New Business Development.

In 2018, Bangchak invested and became the major shareholder of OKEA ASA, now stands as an important part of Bangchak Group’s long-term growth strategy and the commitment to sustainable development. The Ambassador and delegates’ visit to the Draugen platform, strengthen Thai-Norwegian relations, promoting bilateral cooperations linking Norway’s Green Transition and Thailand’s Bio-Circular-Green (BCG) Economy policies.

OKEA ASA is a leading mid-to-late-life operator on the Norwegian Continental Shelf (NCS) through a strategy of growth enhance, value creation, and stringent capital discipline to extend the lifetime of its assets. Bangchak’s investment in OKEA ASA is a resounding success and serves as a prototype for Banchak’s expanding investment to enhance energy security.

Moreover, Norway is the country with the most EV usage per capita in the world, with the country entirely powered by clean energy. Fossil fuel production is geared for export, and the country is renowned for one of the best environmental standards in the world, planning to reduce greenhouse gas emissions by 50-55% by 2030, and to become a low-emission society by 2050, prompting Norwegian businesses to maintain greenhouse gas emissions at the lowest level possible.