PTTEP takes FID on first greenfield development in Malaysia
PTT Exploration and Production Public Co. Ltd. (PTTEP) has reached a final investment decision (FID) to develop the Malaysia SK405B project offshore Malaysia, marking its first greenfield development project in the country.
PTTEP Sarawak Oil Ltd., a subsidiary of PTTEP and operator of SK405B PSC will proceed with development of Sirung and Chenda fields. The development plan for both fields comprises a central processing platform and a wellhead platform with a target combined production capacity of about 15,000 b/d and 200 MMscfd of gas.
SK405B lies in shallow water offshore Sarawak. The field development plan, together with the FID, has been approved by the project partners, and the engineering, procurement, construction, installation, and commissioning (EPCIC) contract is expected to be signed in early 2026, with first production anticipated in 2028.
The project is designed with Zero Routine Flaring and incorporates advanced remote-operated offshore operations, the company said.
“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,” said Montri Rawanchaikul, chief executive officer, PTTEP.
The Malaysia SK405B Project is operated by PTTEP Sarawak Oil Ltd. with 49.5% interest. Partners are Petronas Carigali Sdn. Bhd. (25%) and Mitsui Energy Development Co. Ltd. (25.5%).
Currently, PTTEP has invested more than 10 projects in Malaysia in exploration, development and production phases.