PTTEP announces the Final Investment Decision for the SK405B project offshore Malaysia. It is the company’s first greenfield development in the country, marking the start of a new operational phase following several discoveries with favorable results.
FID approval of the SK405B project.
The subsidiary PTTEP Sarawak Oil Limited, operator of the production sharing contract SK405B will lead the development of the Sirung and Chenda fields. First oil production is planned for 2028 with an estimated combined capacity of 15,000 barrels per day.
The development plan calls for the installation of a central processing platform and a wellhead platform. This configuration will optimize the extraction and treatment of crude oil in Malaysian waters, strengthening the efficiency of the offshore system. offshore system.
The project also integrates advanced marine operations managed remotely, which improves operational control and reduces on-site exposure. The engineering of the development responds to current standards of digitization and automation in exploration and production.
The design of SK405B is based on a zero routine flaring scheme aligned with corporate commitments to reduce greenhouse gas emissions. The technical decision seeks to reduce the carbon footprint of the project from its initial phase.
With this FID PTTEP moves from exploration to commercial development in one of its strategic countries. The move strengthens its international portfolio and expands its exposure to offshore resources in Malaysia.
The project is operated by PTTEP Sarawak Oil Limited with a 49.5% interest, while Petronas Carigali owns 25% and Mitsui Energy Development 25.5%. The alliance reflects cooperation between key regional players in the upstream sector.
PTTEP currently has more than ten projects in Malaysia in different stages of exploration, development and production, consolidating its presence in the country’s energy market.
Source and photo: PTTEP