“Malaysia holds a prominent position within our strategic investment areas and proves successful oil and gas discoveries in offshore areas continuously,” said PTTEP CEO Montri Rawanchaikul.
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"At COP 28, governments should make them stop drilling and start paying for the damage their operations cause.”
A Mitsui official, Ryo Zushiden, said the Hai Long project was one of the company’s “most important investments in the renewable energy sector”.
In September, it sold non-operated stakes in the Kaybob Duvernay and Placid Montney for $104 million. The plan is to invest some of the proceeds in international works.
Geng North is thought to hold around 5 trillion cubic feet of gas and 400 million barrels of condensate. Eni sees the Kutei Basin becoming a “new world class gas hub”.
The company said it aims to increase its LNG contracted volumes to more than 18 million tonnes per year of LNG by 2026.