PTTEP makes largest-ever gas discovery in Malaysia

PTTEP makes largest-ever gas discovery in Malaysia

Thailand's largest oil and gas firm, PTT Exploration and Production Plc, on Wednesday said it made its biggest gas find yet in a project offshore of Malaysia.

"We are delighted to confirm the largest-ever gas discovery by PTTEP," chief executive Phongsthorn Thavisin said, adding that the discovery strengthened the company's investment base in Malaysia.

The discovery is based on the appraisal of Lang Lebah-2 in the Sarawak SK 410B project, about 90km offshore of the Malaysian state of Sarawak.

The announcement comes after the PTTEP acquired a 20% stake in Oman's Block 61 from British oil major BP Plc for $2.6 billion this month.

The appraisal drilled to a total depth of 4,320 metres, PTTEP said, and well tests showed a flow rate of 50 million cubic feet of gas per day.

A PTTEP subsidiary operates the project, holding a 42.5% stake, along with Kuwait's KUFPEC and Petronas Carigali Sdn Bhd, holding 42.5% and 15% respectively. 

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