PTT Exploration and Production Public Company Limited (PTTEP) joins PETRONAS Carigali Sdn. Bhd. (PCSB) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) as a partner in offshore exploration Block SK325. The investment further expands PTTEP’s growth opportunity in Malaysia while strengthening relationship with business partners.
PTTEP Chief Executive Officer, Mr. Montri Rawanchaikul, revealed that PTTEP Sarawak Oil Limited (PTTEP SKO), a subsidiary of PTTEP, along with PCSB and PSEP have signed a Production Sharing Contract (PSC) with Petroliam Nasional Berhad (PETRONAS) for the offshore exploration Block SK325 which was offered under the Malaysia Bid Round (MBR) 2022. MBR is an annual licensing round organized by Malaysia Petroleum Management (MPM), PETRONAS as the custodian of petroleum resources in Malaysia
Thailand’s national upstream company PTTEP has spudded the latest in a string of keenly watched exploration and appraisal wells offshore Malaysia where it is hoping to continue its success of late with the drill bit, firming up more hydrocarbons for a proposed cluster development.
Borr Drilling’s rig Gunnlod is drilling the Sirung-2 appraisal well located on Block SK 405B offshore Sarawak, East Malaysia.
The successful Sirung-1 wildcat that was spudded in January 2021 discovered both oil and gas.
PTTEP’s subsidiary PTTEP HK Offshore (PTTEP HKO) began the drilling of the Paprika-1 wildcat well in Block SK410B in July.
The well was drilled to a total depth of 3,348 meters and encountered gas pay in clastic reservoirs, the company said, adding that the discovery provides PTTEP with a further development opportunity in Northern Sarawak and supports the company’s long-term growth.
PTTEP announces another gas discovery in Malaysia from the exploration well, Paprika-1, in Block SK410B. The discovery provides PTTEP with a further development opportunity in Northern Sarawak and supports the company’s long-term growth. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that PTTEP’s subsidiary PTTEP HK Offshore Limited (PTTEP HKO) commenced the drilling of Paprika -1 wildcat well in Block SK410B in July 2022. The well was drilled to a total depth of 3,348 meters and encountered gas pay in clastic reservoirs. PTTEP and partners – KUFPEC and PETRONAS Carigali Sdn Bhd, previously made a major gas discovery at Lang Lebah structure within the same block.
Exploration and development activities in deepwater Sabah, Malaysia have increased since the first oil and gas discovery, Kamunsu East 1, in the late 1990s by Shell. More than 45% of discoveries in the area are found within the Upper Miocene Cycle V reservoirs of the Baram Delta and the Northwest Sabah Province.
The Kikeh field was the first deepwater development in Malaysia which was discovered in 2003 and commenced production in 2007. Six other fields have come onstream since then with the latest, the Rotan field by PTTEP, in early 2021. A variety of production systems have been used for the producing fields in deepwater Sabah. These production systems range from spar dry tree unit (DTU) (Kikeh field), semisubmersible floating production systems (Gumusut-Kakap field), tension leg platforms (TLP) (Malikai field) and floating liquified natural gas (FLNG) (Rotan and Buluh fields).
PTT Exploration and Production Plc (PTTEP) is preparing to explore a new offshore oil block in Malaysia under its “Coming Home Strategy” to focus more on new investments in Southeast Asia.
Malaysian national oil and gas conglomerate Petronas awarded the exploration rights at Block SB412, located off the northwestern coast of Sabah, to PTTEP through its subsidiary PTTEP HKO and its partner SapuraOMV.
Petronas awarding parallel front-end engineering and design contracts for its Kasawari carbon capture and storage project offshore its native Malaysia serves as a timely reminder that the increasingly global decarbonisation drive is continuing to build momentum.
But it also highlights the ability of conventional oil and gas projects to continue to attract billions of dollars’ worth of capital expenditure, with demand for hydrocarbons looking set to prevail until at least 2050 and likely well beyond.
The Malaysian national oil company appears to be on track — as intended — to take the final investment decision later this year on Kasawari CCS (Kasawari phase two), which is being touted as the world’s largest offshore CCS project.
Malaysian energy and maritime solutions provider MISC Berhad announced that the Malaysian Deepwater Floating Terminal (Kikeh) Limited (MDFT) had recently entered into an agreement with PTTEP to extend a charter contract for the FPSO Kikeh, which is operating off Sabah, Malaysia.
MDFT is a joint venture company between MISC and SBM Holdings (SBM) with 51 per cent and 49 per cent of the equity, respectively.
As reported by MISC on Monday, the charter extension for the vessel is for six years, beginning January 2022 until January 2028.
PTTEP has scored another exploration success offshore Sarawak, Malaysia, with its second consecutive discovery well in Block SK417.
The first discovery well — Dokong-1 — was announced in February, hitting more than 80 metres of pay in a gas column.
Provisional results of the second well — Nangka-1 — were announced on Tuesday by the Malaysian national oil company Petronas which partners PTTEP in SK417 with a 20% interest.
Posted by Wata 
Wata - Malaysian Oil and Gas Engineer 