Thailand’s PTTEP has signed a production sharing agreement with Malaysia’s Petronas for exploration and production rights of two offshore blocks, PM407 and PM415, in shallow waters off Peninsular Malaysia under Malaysia 2018 Bidding Round.
The Block PM407 and Block PM415 are located around 160km offshore Peninsular Malaysia.
Under the term of agreements, PTTEP will be the operator of the two blocks with 55 percent participating interest in Block PM407 and 70 percent in Block PM415 while PETRONAS Carigali holds 45 percent interest in Block PM407 and 30 percent in Block PM415.
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