PTTEP Achieves Milestone FID for Malaysia's First Greenfield SK405B Project
Recently, PTTEP has reached a pivotal milestone in Malaysia with the FID for the offshore SK405B Project, which is the company's first greenfield development in the country, a key strategic market for its long-term growth. Led by PTTEP's subsidiary PTTEP Sarawak Oil Limited, the FID covers the Sirung and Chenda fields, with a development plan including a central processing platform and a wellhead platform. Targeting first oil production in 2028, the project will deliver a combined production capacity of approximately 15,000 barrels per day. Aligned with global low-carbon energy goals, the SK405B Project features Zero Routine Flaring and advanced remote-operated offshore operations, embodying PTTEP's commitment to cutting GHG emissions while boosting operational efficiency.
As shared by PTTEP CEO Mr. Montri Rawanchaikul, this project marks a critical step from exploration to development for PTTEP in Malaysia, laying the groundwork for future greenfield opportunities and strengthening the company's presence in the region with a focus on environmental stewardship.
The SK405B Project is a joint venture with PETRONAS Carigali Sdn. Bhd. (25%) and Mitsui Energy Development Co., Ltd. (25.5%), with PTTEP holding a 49.5% participating interest. This latest move builds on PTTEP's robust footprint in Malaysia, where the company has already invested in more than 10 exploration, development and production projects.
A significant step for PTTEP's long-term growth strategy and a valuable addition to Malaysia's energy landscape!
