PTT Exploration and Production Public Company Limited (SET: PTTEP) has announced that PTTEP Sarawak Oil Limited (PTTEP SKO), a wholly-owned subsidiary of PTTEP Group, along with Petronas Carigali Sdn. Bhd. (PCSB), and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) have been awarded the exploration Block SK325 from Malaysia Bid Round 2022. The consortium has entered into a Production Sharing Contract (PSC) with Petroliam Nasional Berhad (PETRONAS).
Block SK325 is located offshore Sarawak, covering a large area of approximately 3,602 square kilometers. PCSB is the operator with 60% participating interest while PTTEP SKO and PSEP hold 32.5% and 7.5%, respectively.
This achievement aligns with PTTEP’s investment strategy, driving growth in strategic focus areas and further strengthening company’s portfolio in Malaysia