PTT Exploration and Production : PTTEP makes another gas discovery at SK410B offshore Malaysia

Bangkok, December 22, 2022 - PTTEP announces another gas discovery in Malaysia from the exploration well, Paprika-1, in Block SK410B. The discovery provides PTTEP with a further development opportunity in Northern Sarawak and supports the company's long-term growth.

Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that PTTEP's subsidiary PTTEP HK Offshore Limited (PTTEP HKO) commenced the drilling of Paprika -1 wildcat well in Block SK410B in July 2022. The well was drilled to a total depth of 3,348 meters and encountered gas pay in clastic reservoirs. PTTEP and partners - KUFPEC and PETRONAS Carigali Sdn Bhd, previously made a major gas discovery at Lang Lebah structure within the same block.

"Paprika-1 is PTTEP's first exploration well in Malaysia this year and is successfully completed with a sweet gas discovery which enables the company to move toward further assessment for the development of the field. This discovery presents an important opportunity for PTTEP to strategically establish the Northern Sarawak Clastic Hub. The success also highlights the strong partnership of all joint venture partners and the expertise in applying intensive subsurface evaluation to identify opportunities in mature area." said the PTTEP CEO.

SK410B is located in the shallow waters, approximately 90 kilometers off the coast of Miri, Sarawak and is adjacent to Block SK417 which has proven gas reserves last year. The location, therefore, provides PTTEP the opportunity to consider this discovery alongside other discoveries in this area (cluster development). This area also has existing facilities nearby which can potentially support future development. PTTEP HKO is the operator of the SK410B with a 42.5% participating interest while KUFPEC holds 42.5% and PETRONAS Carigali Sdn. Bhd. 15% accordingly.

Apart from SK410B, PTTEP operates Block SK405B, SK438, SK314A, SK417, PM407, PM415 and SB412, which are all in the exploration phase, and Block K, SK309, SK311, the Rotan-Buluh field in Block H which are in the production phase. PTTEP also jointly operates gas fields in the Malaysia-Thailand Joint Development Area with PC JDA Limited.

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The information, statements, forecasts and projections contained herein reflect the Company's current views with respect to future events and financial performance. These views are based on assumptions subject to various risks. No assurance is given that these future events will occur, or that the Company's future assumptions are correct. Actual results may differ materially from those projected.