PTTEP, Thailand’s leading energy firm, has committed to its first greenfield oil project offshore Malaysia, marking a major step in regional energy growth. PTTEP Sarawak Oil Limited, a PTTEP subsidiary, reached Final Investment Decision (FID) for the SK405B Project on February 10, 2026. Located offshore Sarawak, it targets the Sirung and Chenda fields. The plan includes a central processing platform and wellhead platform, with first oil expected in 2028 and peak output of 15,000 barrels per day.
The project features Zero Routine Flaring and remote-operated systems to cut greenhouse gas emissions. This aligns with PTTEP’s low-carbon goals while boosting efficiency. CEO Montri Rawanchaikul called it a shift from exploration to development, strengthening PTTEP’s Malaysian presence.
Malaysia is a key market for PTTEP, supporting long-term growth and energy security. Partners include PETRONAS and Mitsui. The initiative aids Malaysia’s target of 2 million barrels of oil equivalent daily by 2035. It follows PTTEP’s successful finds, paving way for more greenfield ventures amid rising Southeast Asian demand.
FAQs [Frequently Asked Questions]
1. What is the SK405B Project?
PTTEP’s first greenfield oil development offshore Sarawak, Malaysia, covering Sirung and Chenda fields with FID in February 2026.
2. When will production start?
First oil is targeted for 2028, with combined capacity of 15,000 barrels per day from new platforms.
3. What makes it eco-friendly?
Zero Routine Flaring and remote operations reduce emissions, supporting PTTEP’s green strategy in Malaysia.