PTT Exploration and Production Public Company Limited (SET: PTTEP) has informed the Stock Exchange of Thailand that PTTEP SG Holding Pte. Ltd., a subsidiary of PTTEP, entered into an investment with TotalEnergies SE (TTE) by acquiring 49.99% interest in AzurVista Resources Pte. Ltd. (AzurVista Resources), a wholly owned subsidiary of TTE.
AzurVista Resources holds 20% participating interest in SK408 block, and the partners are TotalEnergies EP Sarawak Inc. (TEPS) holding 20%, Petronas Carigali Sdn. Bhd. (PCSB) holding 30%, and Sarawak Shell Bhd. (SSB) holding 30%. Following the transaction, PTTEP holds an indirect participating interest of 9.998% in SK408 block.
SK408 block is a natural gas and condensate producing field located in the shallow water of Malaysia, under a Production Sharing Contract (PSC) regime. The operations are divided into two parts: the western area operated by TEPS, and the eastern area operated by SSB. The block has achieved commercially viable natural gas discoveries, and both development and production activities are currently ongoing. The current production volume is approximately 750 million standard cubic feet of natural gas per day and 15,000 barrels of condensate per day, and the produced gas is fed to the onshore LNG liquefaction complex.
The investment is aligned with the company’s strategic plan, which focuses on expanding in key focus regions and strengthening collaboration with strategic partners. It also enhances the company’s production capacity and petroleum reserves, thereby supporting PTTEP’s long-term growth.
