Thailand’s national oil and gas company PTT Exploration and Production (PTTEP) has acquired 50% of Block A-18 in the Malaysia–Thailand Joint Development Area (MTJDA) for US$450m through the acquisition of all the interests owned by Hess International Oil Corporation (part of the Chevron group). The Block A-18, which includes the Cakerawala, Bumi, Suriya, Bulan, and Bulan South fields, started production in 2005 and it currently produces 17 mcm/d, which is equally distributed between Thailand and Malaysia and represents about 6% of Thailand’s gas demand. The deal has been closed, and it sums to the company’s existing interest (50%) in the neighbouring Block B-17-01.
The MTJDA is located in the southern part of the Gulf of Thailand and is a key source of natural gas and condensate for Thailand and Malaysia. The Block B-17-01 began production in 2010 and it currently produces about 8.5 mcm/d of natural gas for Thailand and Malaysia.