PTT Exploration and Production Public Company Limited (PTTEP) has reached a landmark decision for its operations in Malaysia, announcing the final investment decision (FID) for the Malaysia SK405B Project — its first greenfield venture in the country.
The project, operated by PTTEP Sarawak Oil, a subsidiary of PTTEP, focuses on the development of the Sirung and Chenda fields under the SK405B Production Sharing Contract.
The decision, announced by PTTEP Chief Executive Officer Montri Rawanchaikul, marks a key milestone in transitioning the company’s Malaysian operations from exploration to development.
Under the development plan, PTTEP will construct a central processing platform and a wellhead platform to facilitate offshore operations.
The project will incorporate Zero Routine Flaring initiatives and deploy advanced remote-operated offshore systems designed to minimise environmental impact and enhance safety.
Initial oil production is slated to commence in 2028, with an expected combined output of approximately 15,000 barrels per day (bpd).
According to Rawanchaikul, the project underscores PTTEP’s vision for sustainable growth across Southeast Asia.
“Following several successful discoveries that we have made in Malaysia, the Sirung and Chenda fields represent an important step for PTTEP from exploration to development, laying the foundation for future greenfield opportunities,” he said.
“These developments underpin PTTEP’s long-term growth and strengthen our presence in Malaysia with a focus on environmental stewardship while supporting Malaysia’s energy landscape.”
PTTEP Sarawak Oil holds a 49.5 per cent interest in the SK405B Project, while the remaining stakes are divided between Malaysia’s national oil company PETRONAS Carigali (25 per cent) and Mitsui Energy Development (25.5 per cent).
The collaborative venture extends PTTEP’s established partnerships within Malaysia, where the company is now involved in more than 10 upstream projects spanning exploration, development, and production.
The SK405B development aligns with PTTEP’s broader corporate strategy, which aims to advance greenhouse gas reduction across its operations while enhancing operational efficiency.
The integration of Zero Routine Flaring measures reflects PTTEP’s support for global decarbonisation efforts and the company’s alignment with PETRONAS’ own sustainability objectives.
Rawanchaikul emphasised that expanding in Malaysia remains a cornerstone of PTTEP’s regional portfolio.
The SK405B decision follows a significant acquisition in July 2025, when the company secured full ownership of the Block A-18 offshore gas block in the Malaysia–Thailand Joint Development Area by acquiring the remaining 50 per cent participating interest.
