PTTEP Signs Farm-Out Deals for Malaysian Gas Fields
PTTEP and its partners TotalEnergies, KUFPEC, and PETRONAS Carigali have signed farm-out agreements to jointly develop the Lang Lebah and B14 gas fields offshore Sarawak, Malaysia. The fields hold over 6.5 trillion cubic feet of resources and will share infrastructure. The deal awaits approval from Malaysia Petroleum Management and will give PTTEP a 25% stake.
Bangkok, November 2, 2026 – PTTEP, together with TotalEnergies, KUFPEC, and PETRONAS Carigali, signed Farm-Out Agreements (FOAs) to jointly invest in the Lang Lebah and B14 natural gas fields offshore Sarawak, East Malaysia. The move strengthens PTTEP's business operations in Malaysia in line with its asset portfolio management strategy, enhances natural gas development potential, and supports the long-term development of Malaysia's petroleum resources.
The Lang Lebah field is part of the Malaysia SK410B project and lies about 14 kilometers from the B14 field, allowing shared infrastructure for joint development. Both fields are currently in the pre-development phase and are estimated to hold combined petroleum resources of more than 6.5 trillion cubic feet.
Ms. Kanita Saswatayu, Chief Executive Officer of PTTEP, said: "The signing of these agreements aligns with our asset portfolio management strategy to increase efficiency in developing the Lang Lebah and B14 fields alongside our joint venture partners through integrated natural gas management. This will improve economic viability and increase the chances of successful development. At the same time, it promotes knowledge and expertise exchange among personnel to pursue future business and project development opportunities, while also supporting the development of Malaysia's petroleum resources."
The agreements will take full effect upon approval from Malaysia Petroleum Management (MPM). After approval, the participating interest in both fields will be: TotalEnergies EP Exploration (Sarawak) Sdn. Bhd. (TotalEnergies) 30% as Operator, PTTEP 25%, KUFPEC Malaysia (SK-410B) Limited (KUFPEC) 25%, and PETRONAS Carigali Sdn. Bhd. (PCSB) 20%.
PTTEP currently has investments in more than 11 projects across Malaysia spanning production, development, and petroleum exploration phases.
