PTTEP discovers three offshore oil and gas fields in Sarawak

KUCHING: PTT Exploration and Production Public Company Limited (PTTEP) has successfully discovered three offshore oil and gas fields in Sarawak.

The discoveries include the Chenda-1 exploration well in block SK405B, Bangsawan-1, and Babadon-1 exploration wells in block SK438.

In a statement, PTTEP revealed that these fields are located in adjacent areas previously explored by the company, all proving to be high-quality oil and gas reservoirs.

Notably, the Babadon-1 discovery unveiled massive sweet gas sandstone reservoirs with a thickness of up to 200 meters, signifying an outstanding field size in the offshore Sarawak region. This achievement follows PTTEP’s earlier success at the Lang Lebah field.

In a positive outcome, PTTEP confirmed petroleum resources with the Sirung-2 appraisal well in block SK405B, building on the prior success of the Sirung-1 exploration well in 2021. The project is now progressing towards the engineering study phase.

PTTEP’s subsidiaries, PTTEP HK Offshore Limited (PTTEP HKO) and PTTEP Sarawak Oil Limited (PTTEP SKO), played key roles in making these new discoveries.

“Malaysia holds a prominent position within our strategic investment areas and proves successful oil and gas discoveries in offshore areas continuously,” said PTTEP CEO Montri Rawanchaikul.

“PTTEP plans to accelerate the development of these neighbouring fields in a cluster model by synergising facilities and production equipment, enabling quick and efficient development and production while contributing to the company’s growth in alignment with our strategic plan.”

The company has a significant portfolio in Malaysia, including Blocks SK405B, SK438, SK314A, SK417, PM407, SB412, and SK325, all in the exploration phase.

The Lang Lebah and Paprika gas fields in Block SK410B are in the development phase, while Blocks K, SK309, SK311, Block H, and the Malaysia-Thailand Joint Development Area (MTJDA) are in the production phase.

PTTEP expressed anticipation for “long-term growth in Malaysia under the stewardship of Malaysia Petroleum Management (Petronas) as the country’s custodian of petroleum resources.”