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Petronas Carigali, PTTEP Secure Approvals for Production Sharing Contract

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Malaysia's Petronas Carigali and Thailand's PTT (SET:PTT) have obtained government approvals for a new production-sharing contract which covers a major gas block in the Malaysia-Thailand Joint Development Area, according to a Monday statement from Petronas.

The contract for Block A-18-01 was signed in Bangkok by the state energy company's stepdown subsidiary, PC JDA, which is a direct subsidiary of Petronas Carigali.

PTTEP JDX and Malaysia-Thailand Joint Authority were the other parties to the contract.

The agreement will extend development of the existing site beyond the current expiration term in April 2029 and now carries a 35-year term.

The parties have also signed a gas sales agreement to support continued supply from the block to both countries.

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