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Thailand’s PTTEP Announces Largest-ever Gas Discovery in Malaysia

- Reuters

Thailand’s largest oil and gas firm, PTT Exploration and Production Pcl on Feb. 10 said it made its biggest gas find yet in a project offshore Malaysia.

“We are delighted to confirm the largest-ever gas discovery by PTTEP,” CEO Phongsthorn Thavisin said, adding that the discovery strengthened the company’s investment base in Malaysia.

The discovery is based on the appraisal of Lang Lebah-2 in the Sarawak SK 410B project, about 90 km (55.92 miles) offshore of the Malaysian state of Sarawak.

The announcement comes after the PTTEP acquired a 20% stake in Oman’s Block 61 form British oil major BP Plc for $2.6 billion this month.

The appraisal drilled to a total depth of 4,320 m with proven over 600 m of net gas pay, PTTEP said, adding the well test showed a flow rate of 50 million cubic feet of gas per day.

A PTTEP subsidiary operates the project, holding a 42.5% stake along with Kuwait’s KUFPEC and Petronas Carigali Sdn Bhd, holding 42.5% and 15%, respectively.

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