Bangkok:PTT Exploration and Production Public Company Limited (PTT EP) and its partners have signed Farm-Out Agreements (FOAs) to jointly invest in the development of natural gas fields in Malaysia. The collaboration includes TotalEnergies, KUFPEC, and PETRONAS Carigali, focusing on the Lang Lebah and B14 gas fields off the coast of Sarawak, East Malaysia.

According to Thai News Agency, the agreement is part of PTT EP's strategy to enhance its asset portfolio and accelerate the development of gas fields in Udon Thani and Khon Kaen, thereby bolstering Thailand's energy security. The Lang Lebah field, part of the Malaysia SK410B project, is situated approximately 14 kilometers from the B14 field, and both are in the pre-development phase with an estimated combined petroleum resource of over 6.5 trillion cubic feet.

The agreement is pending approval from Malaysia Petroleum Management (MPM). Upon approval, the shareholdings for both fields will be as follows TotalEnergies EP Exploration (Sarawak) Sdn. Bhd. will hold 30% and act as the operator, PTT EP will hold 25%, KUFPEC Malaysia (SK-410B) Limited will hold 25%, and PETRONAS Carigali Sdn. Bhd. will hold 20%.

PTT EP has over 11 petroleum production, development, and exploration projects in Malaysia. The company reported total revenue of 268,375 million baht for the first nine months of 2026, with a net profit increase of 25.65%. The growth is attributed to a 10% increase in average petroleum sales volume and rising product selling prices. Additionally, the company generated over 70,100 million baht for the government through taxes and royalties.

PTT EP is also advancing long-term growth plans in Thailand, having won the 25th round of onshore petroleum exploration and production concessions in the Northeast region. The company plans to fast-track development by connecting the project to existing infrastructure to supply the Nam Phong power plant, aiming to reduce LNG imports and support energy security.