Skrine is pleased to share that we have advised PTT Exploration and Production (“PTTEP”) on the Malaysian law aspects of PTTEP’s acquisition of full ownership of the Block A-18 Production Sharing Contract located in the Malaysia–Thailand Joint Development Area (“MTJDA”) following a USD 450 million acquisition from Chevron subsidiaries, Hess (Bahamas) and Hess Asia Holdings, both now owned by Chevron following its recent merger with Hess Corp. The Block A-18 PSC encompasses the Cakerawala, Bumi, Suriya, Bulan, and Bulan South fields which have been operational since 2005 and its acquisition complements PTTEP's existing 50% interest in Block B-17-01, which began production in 2010 and generates roughly 300 million cubic feet of gas daily. The MTJDA spans 7,250 square kilometres in the southern Gulf of Thailand and serves as a crucial source of natural gas and condensate for both Malaysia and Thailand.
 
The Skrine team was led by Oil and Gas and Energy Practice Head, Fariz Abdul Aziz, who was supported by Senior Associate, Samson Kong, and Associate, Siti Sarah Iskandar.
 
News on the transaction can be accessed at:
https://www.reuters.com/business/energy/thailands-pttep-buys-full-control-offshore-gas-block-chevron-450-million-2025-07-26/
https://www.msn.com/en-us/money/markets/thailand-s-pttep-buys-full-control-in-offshore-gas-block-from-chevron-for-450-million/ar-AA1Jk0MN
 
Alert by Samson Kong (Senior Associate) of the Oil & Gas and Energy Practice of Skrine.