PETRONAS SIGNS PRODUCTION SHARING CONTRACT FOR BLOCK B-17-01 IN MALAYSIA-THAILAND JOINT DEVELOPMENT AREA

PETRONAS and PTT Public Company Limited of Thailand (PTT), through their respective subsidiaries, PC JDA Limited and PTTEP International Limited (PTTEPI) signed a Production Sharing Contract (PSC) for Block B-17-01 with Malaysia-Thailand Joint Authority (MTJA) in Kuala Lumpur today.

Block B-17-01 is located in the Malaysia-Thailand Joint Development Area (MTJDA), an offshore overlapping area between Thailand and Malaysia found with hydrocarbon resources. PC JDA Limited and PTTEP International Limited (PTTEPI) will each hold a fifty percent (50%) of the participation interest in the PSC.

Under the PSC, PC JDA Limited and PTTEPI are committed to explore and develop the Block, which covers an area of approximately 3,475 square kilometres.

PETRONAS and PTT are also partners in the Blocks B-17 & C-19 PSC in the MTJDA signed in 1994. The award of the Block B-17-01 PSC today shows PETRONAS’ continued commitment to explore and develop the petroleum resources in MTJDA jointly with PTT.

Issued by
Media Relations & Information Department

Sep 30, 2004OffshoreMan

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