Topic: Exploration

Successful PTTEP exploration well discovers oil and gas offshore Malaysia

Region: Asia Pacific
Content Types: Report
Date: Mar, 2021

2021Sirung1

PTT Exploration and Production Public Company Limited (PTTEP) have announced a successful oil and gas discovery from the Sirung-1 exploration well in Block SK405B, offshore Sarawak in Malaysia, that was drilled by PTTEP Sarawak Oil Limited, a subsidiary of PTTEP.

Block SK405B is located in shallow waters approximately 137 km off the coast of Sarawak. PTTEP Sarawak Oil Limited is the operator with 59.5% participating interest, with MOECO Oil and PETRONAS holding a 25.5% and 15% interest respectively.

PTTEP Sarawak Oil Limited commenced the drilling of the Sirung-1 wildcat well in January 2021. The well was drilled to a total depth of 2,538 m where it encountered a significant oil and gas column of more than 100 metres, in the clastic reservoirs. An appraisal well is scheduled in the near future to assess the upside resources.

Drilling for long-term growth

The achievement is the latest outcome of PTTEP’s ‘Execute strategy’ which focuses on building reserves for long-term growth.

“The Sirung-1 exploration well marks PTTEP’s third discovery offshore Malaysia following SK410B’s Lang Lebah and SK417’s Dokong. PTTEP also plans to explore nearby prospects in the PSC next year. The achievements have strengthened our investment base as we continue to expand our exploration horizon in Malaysia,” commented Phongsthorn Thavisin, CEO of PTTEP.

Apart from the Sarawak SK405B, there are also SK410B, SK314A, SK438, SK417, PM407 and PM415, all still in the exploration stage. Major projects in PTTEP’s portfolio in Malaysia include the producing assets in Block K, SK309, SK311, the Rotan-Buloh field in Block H and the jointly operated gas fields with PETRONAS Carigali in the Malaysia-Thailand Joint Development Area. PTTEP is also a joint investor with PTT, through the PTT Global LNG Company, in the MLNG Train 9 Project, an LNG liquefaction plant in Sarawak.