PC JDA Limited, a subsidiary of PETRONAS Carigali Sdn Bhd, has successfully concluded the negotiation with the Malaysia-Thailand Joint Authority (MTJA) and received approvals from Malaysian and Thai governments to annex the Block B-17 and C-19 Production Sharing Contracts (PSC) and Block B-17-02 (Open Area) into Block B-17-01 PSC.
Under the terms of the annexation, it attains an Open Area and a 10-year production period extension until 2039. PC JDA Limited and MTJA have also committed to additional gas volume under an amended Gas Sales Agreement, which governs the sale and delivery of gas from the PSC areas to Peninsular Malaysia and Thailand.
PC JDA Limited is in partnership with PTTEP International Limited (PTTEPI), a wholly owned subsidiary of PTTEP in developing and producing from the PSC areas.
Director of PC JDA Limited, Nurunnajwa Mohd Aras said, “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 Malaysia-Thailand Joint Development Area (MTJDA) which is a key natural gas supplier for both countries.”
The PSC areas are located within the MTJDA, which is the Malaysia-Thailand offshore overlapping area measuring approximately 7,250 square kilometres administered by the MTJA.