PTTEP, Petronas Seal Long-Term Deal for Offshore MTJA Project

Thailand's state-owned upstream oil and gas firm PTTEP and Malaysia's national energy company Petronas have finalized a long-term production-sharing contract (PSC) for an offshore project in the Malaysia-Thailand Joint Development Area (MTJA).

The PSC, which runs for 35 years starting January 1, 2026, covers the original Block A-18 area plus an additional zone. Petronas and PTTEP will each hold a 50% participating interest in the asset.

Under the deal, both countries will benefit from the block's estimated natural gas output of 300-400 million standard cubic feet per day. Gas delivered to Thailand represents roughly 4% of national demand, mainly fueling power generation in the southern region.