PTTEP has made three consecutive oil and gasoline discoveries offshore Malaysia and says it’s strategically poised to expedite the event of those discoveries by means of a cluster growth strategy.
Montri Rawanchaikul, CEO of PTTEP, disclosed that PTTEP’s subsidiary, PTTEP HK Offshore Restricted and PTTEP Sarawak Oil Restricted have made new oil and gasoline discoveries in three fields offshore Sarawak, Malaysia, together with Chenda-1 exploration nicely within the block SK405B, Bangsawan-1 and Babadon-1 exploration wells within the block SK438.
These fields are situated in adjoining areas beforehand found by the corporate. All have confirmed to be high-quality oil and gasoline reservoirs, particularly Babadon-1 with its huge candy gasoline sandstone reservoirs with thickness as much as 200 meters, thought-about as excellent discipline measurement within the offshore Sarawak area which PTTEP found following earlier achievement on the Lang Lebah discipline.
PTTEP has achieved a optimistic end result with Sirung-2 appraisal nicely within the block SK405B to affirm petroleum sources. This success follows the prior discovery of oil and gasoline within the Sirung-1 exploration nicely in 2021. The undertaking is now transferring in the direction of an engineering research.
“Malaysia holds a distinguished place inside our strategic funding areas and proves profitable oil and gasoline discoveries in offshore areas repeatedly. PTTEP plans to speed up the event of those neighboring fields in a cluster mannequin by synergizing services and manufacturing gear, enabling fast and environment friendly growth and manufacturing, whereas contributing to the corporate’s progress in alignment with our strategic plan,” Montri acknowledged.
PTTEP’s portfolio in Malaysia consists of Block SK405B, SK438, SK314A, SK417, PM407, SB412 and SK325 all of that are within the exploration section. Lang Lebah and Paprika gasoline fields in Block SK410B are beneath growth section. Block Ok, SK309, SK311, Block H and the Malaysia–Thailand Joint Improvement Space (MTJDA) are within the manufacturing section.
