PTTEPI, PC JDA Sign Add-on Deal to PSC for Block 17-01 in Gulf of Thailand

Thailand's PTT Exploration and Production Public Co. Ltd. (PTTEP) announced Wednesday that its subsidiary PTTEP International Ltd. (PTTEPI) and Malaysia's PETRONAS Carigali (JDA) Sdn Bhd have signed the Supplementary Contract No. 2 to the Production Sharing Contract (PSC) for Block 17-01 in the Malaysia-Thailand Joint Development Area (MTJDA) located in the southern part of the Gulf of Thailand.

Under the contract, PTTEPI and PC JDA will accelerate exploration activity in the marginal fields in the PSC in order to supply petroleum to both Thailand and Malaysia.

"The objective of the contract is to increase the cost recovery in the MTJDA," PTTEP said in the press release.

PTTEPI and PC JDA -- a unit of Malaysia's national oil company Petroliam Nasional Berhad's (PETRONAS) subsidiary PETRONAS Carigali -- each holds 50 percent interest in Block 17-01, with the PSC operated by Carigali-PTTEPI Operating Co. Sdn Bhd (CPOC).



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Completions Supervisor Job
Expertise: Petroleum Engineering|Production Engineering|Workover or Completion
Location: Houston, TX
 
Production Engineer I Job
Expertise: Production Engineering
Location: Carlsbad, MN
 
Reservoir Engineer II Job
Expertise: Petroleum Engineering|Reservoir Engineering
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours