KUALA LUMPUR – Petronas Carigali Sdn Bhd subsidiary, PC JDA Ltd, has received approvals from the Malaysian and Thai governments to annex the Block B-17 and C-19 production-sharing contracts (PSCs) and Block B-17-02 into Block B-17-01 PSC.
The annexation will have a 10-year production period extension until 2039.
PC JDA Ltd and the Malaysia-Thailand Joint Authority (MTJA) have also committed to additional gas volume under an amended gas sales agreement, which governs its sale and delivery from the PSC areas to Peninsular Malaysia and Thailand.
PC JDA Ltd is in partnership with PTTEP International Ltd, a wholly owned subsidiary of Thailand-based PTT Exploration and Production Public Co Ltd (PTTEP) to develop and extract resources from the PSC areas.
“The annexation of the PSCs is an important milestone as the additional gas supply is crucial to both nations’ energy security and economic prosperity. It also further strengthens our presence in the Malaysia-Thailand Joint Development Area (MTJDA), which is a key natural gas supplier for both countries,” PC JDA Ltd director Nurunnajwa Mohd Aras said in a statement.
The PSC areas are located within the MTJDA, which is the Malaysia-Thailand offshore overlapping area of about 7,250sq km administered by the MTJA. – Bernama, August 25, 2022
