OneSubsea secures EPC contract for subsea production systems at Kikeh 3B Phase 2 deepwater project offshore Malaysia

Type: Supply Agreement · Technology: Oil Gas · Country: Malaysia · Announced: 2026-03-11

OneSubsea secured an EPC contract from PTTEP for subsea production systems at Malaysia's Kikeh 3B Phase 2 deepwater project. This marks OneSubsea's.

Analysis

OneSubsea has secured an Engineering, Procurement, and Construction (EPC) contract from PTTEP for subsea production systems at the Kikeh 3B Phase 2 deepwater project offshore Malaysia. This supply agreement positions OneSubsea to deliver critical infrastructure for PTTEP's development stage project, providing the specialized systems required for future deepwater oil and gas extraction in Malaysia. PTTEP's commercial logic centers on securing a global subsea technology provider for its Kikeh 3B Phase 2 development, ensuring the timely delivery of complex subsea components. For OneSubsea, this EPC contract validates its integrated subsea production capabilities in a competitive deepwater market, despite the undisclosed value of the agreement. The deal reinforces OneSubsea's presence in Malaysian deepwater operations. The deal provides important validation for OneSubsea, which was formed as a joint venture in 2023 between SLB (70%) and Aker Solutions (30%), bringing together over 11,000 employees under one entity. This contract for the Kikeh 3B Phase 2 development demonstrates the new company's ability to secure major deepwater projects. PTTEP, a Bangkok-based national oil and gas exploration and production company and a subsidiary of PTT Public Company Limited, continues to expand its global upstream petroleum projects, with this Malaysian deepwater development aligning with its focus on natural resource extraction. The 2026-03-11 announcement confirms PTTEP's ongoing investment in its Malaysian portfolio.

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