PTTEP makes new oil, gas discoveries in Malaysia

Thai state-owned energy company PTTEP on December 7 announced oil and gas discoveries in three fields offshore Sarawak, Malaysia.

The discoveries were made by PTTEP HK Offshore (PTTEP HKO) and PTTEP Sarawak Oil (PTTEP SKO) in the Chenda-1 exploration well (block SK405B) and the Bangsawan-1 and Babadon-1 exploration wells (block SK438).

These fields are located near previously discovered sites and have been confirmed to hold high-quality oil and gas reservoirs. The Babadon-1 well, in particular, revealed sweet gas sandstone reservoirs with a thickness of up to 200 m, highlighting its potential.

Furthermore, PTTEP achieved positive results with the Sirung-2 appraisal well in block SK405B, confirming the presence of substantial petroleum resources. This follows the initial discovery of oil and gas in the Sirung-1 exploration well in 2021. The project is now progressing through the engineering study phase.

Commenting on the discoveries, PTTEP CEO Montri Rawanchaikul stated, "Malaysia is a key area for our strategic investments, and these successful discoveries demonstrate the continued potential of its offshore oil and gas reserves. We plan to expedite the development of these neighboring fields through a cluster model, leveraging shared facilities and production equipment. This approach will ensure efficient and rapid development, ultimately contributing to the company's growth and aligning with our strategic plan."

PTTEP's current Malaysian portfolio includes exploration activities in seven blocks: SK405B, SK438, SK314A, SK417, PM407, SB412, and SK325. The Lang Lebah and Paprika gas fields in block SK410B are currently under development. Additionally, PTTEP has production operations in block K, SK309, SK311, block H, and the Malaysia-Thailand Joint Development Area (MTJDA).