PTTEP Wins the Rights for Exploration Block in Malaysia

July 21, 2016

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Awarded the rights for exploration Block SK410B, Offshore Sarawak, Malaysia, aligned with PTTEP’s growth strategy
3D seismic survey and one exploration well will be conducted for the three-year exploration period

Malaysia July 21, 2016 -- PTTEP HK Offshore Limited, a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), KUFPEC Malaysia (SK-410B) Limited (KUFPEC) and PETRONAS Carigali Sdn. Bhd. (PETRONAS Carigali) signed a Production Sharing Contract (PSC) with PETROLIAM NASIONAL BERHAD (PETRONAS) for the exploration Block SK410B.

The PSC signing ceremony was held on July 21, 2016 at PETRONAS Twin Towers, Kuala Lumpur, Malaysia. PETRONAS was represented by its EVP and CEO Upstream, YBhg. Datuk Mohd Anuar Taib, PTTEP by its President & CEO, Somporn Vongvuthipornchai, KUFPEC by its Vice President of Operations, Madam Hosnia Hashim and PETRONAS Carigali by its Senior Vice President & CEO En. Johari Dasri. YBhg. Datuk Wan Zulkiflee Wan Ariffin, President and CEO of PETRONAS, was present to grace the event.

“Malaysia is renowned as being an area in Southeast Asia of high petroleum potential. From 2011-2015 oil and gas were discovered continually and SK410B is situated in an area where there have been considerable natural gas discoveries. Furthermore the acquisition of this block is in alignment with PTTEP’s strategy for future growth,” said Somporn.

PTTEP will be the operator of the exploration Block SK410B, which is located in shallow water in offshore Sarawak. PTTEP HK Offshore Limited will hold 42.5% interest, while its joint venture partners KUFPEC and PETRONAS Carigali will hold 42.5% and 15% interests respectively. PTTEP and its partners plan to conduct 3D seismic surveys and drill one exploration well during the three-year exploration period.

PTTEP currently invests in petroleum exploration, development and production in 38 projects in 11 countries including the Malaysia–Thailand Joint Development Area that PTTEP and PETRONAS CARIGALI SDN. BHD. has jointly operated for over 22 years.

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