KUCHING, Dec 8: Thailand’s oil and gas giant PTTEP strikes triple new discoveries of exceptional quality oil and gas reservoirs offshore Sarawak, especially Babadon-1 which stands out for its massive sweet gas sandstone reservoirs that set a new standard in the offshore Sarawak region.
PTT Exploration and Production Public Company Limited (PTTEP) chief executive officer Montri Rawanchaikul disclosed that PTTEP’s subsidiary, PTTEP HK Offshore Limited (PTTEP HKO) and PTTEP Sarawak Oil Limited (PTTEP SKO) have made new oil and gas discoveries in three fields including Chenda-1 exploration well in the block SK405B, Bangsawan-1 and Babadon-1 exploration wells in the block SK438.
“These fields, located in adjacent areas previously discovered by the company, have proven to be high-quality oil and gas reservoirs.
“Notably, Babadon-1 which reveals massive sweet gas sandstone reservoirs with thickness up to 200 metres. This is considered an outstanding field size in the offshore Sarawak region which PTTEP has discovered in Malaysia, following earlier achievement at the Lang Lebah field,” he said in a statement today.
Montri emphasised that the company is strategically poised to expedite the development of these discoveries through a cluster development approach that would pave the way for long-term growth in Malaysia.
PTTEP, he elaborated, has achieved a positive outcome with Sirung-2 appraisal well in the block SK405B to affirm petroleum resources.
This success follows the prior discovery of oil and gas in the Sirung-1 exploration well in 2021 with the project now advancing into the Engineering study phase.
“Malaysia holds a prominent position within our strategic investment areas and proves successful oil and gas discoveries in offshore areas continuously.
“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,” Montri reaffirmed.
PTTEP’s portfolio in Malaysia consists of Block SK405B, SK438, SK314A, SK417, PM407, SB412 and SK325, all of which are in the exploration phase.
Lang Lebah and Paprika gas fields in Block SK410B are under development phase. Additionally, Block K, SK309, SK311, Block H and the Malaysia–Thailand Joint Development Area (MTJDA) are in the production phase.
Looking ahead, PTTEP anticipates long term growth in Malaysia under the stewardship of Malaysia Petroleum Management, PETRONAS, as the country’s custodian of petroleum resources. — DayakDaily
