Thailand-based oil and gas major PTT Exploration and Production Public Company (PTTEP) has announced a final investment decision (FID) for the Malaysia SK405B Project, its first greenfield venture in the country.

The project will incorporate Zero Routine Flaring initiatives and advanced remote-operated offshore operations to prioritise environmental considerations.

PTTEP Sarawak Oil, a subsidiary of PTTEP and the operator of the SK405B production sharing contract, has reached the FID for the Sirung and Chenda fields within the SK405B project, as announced by PTTEP CEO Montri Rawanchaikul.

The development plan involves the construction of a central processing platform and a wellhead platform.

Initial oil production is anticipated in 2028, with an expected combined output of approximately 15,000 barrels per day (bpd).

This aligns with PTTEP's broader strategy to reduce greenhouse gas emissions and enhance operational efficiency.

Rawanchaikul said: “Following several successful discoveries that we have made in Malaysia, the Sirung and Chenda fields represent an important step for PTTEP from exploration to development, laying the foundation for future greenfield opportunities.

“These developments underpin PTTEP’s long-term growth and strengthen our presence in Malaysia with a focus on environmental stewardship while supporting Malaysia’s energy landscape.”

PTTEP Sarawak Oil holds a 49.5% interest in the Malaysia SK405B Project, while PETRONAS Carigali and Mitsui Energy Development own 25% and 25.5%, respectively.

Presently, PTTEP is involved in more than ten projects across Malaysia, covering exploration, development and production activities.

In July 2025, PTTEP secured complete ownership of the Block A-18 offshore gas block in the Malaysia–Thailand Joint Development Area by acquiring a 50% participating interest.