Heat 2 tablespoons of coconut or vegetable oil in a 12-inch saucepan over medium heat until shimmering, about 2 minutes.

Add 3-4 tablespoons of Panang curry paste to the heated oil and sauté for 3-5 minutes until it darkens slightly and becomes fragrant.

Slowly stir in ¼ of a can of full-fat coconut milk and mix until glossy, approximately 1-2 minutes.

Introduce 4 sliced boneless skinless chicken thighs into the pan, tossing them in the mixture and cook for about 1 minute.

Stir in 1 tablespoon of sugar, 2 tablespoons of fish sauce, sliced red bell pepper, and 6 crushed kaffir lime leaves. Let it simmer uncovered on medium heat for 5-8 minutes.

Add 1 cup of snow peas and 10-15 Thai basil leaves to the pan, along with the last bit of coconut milk and 3 tablespoons of natural peanut butter. Stir for another 2-3 minutes.

Taste and adjust seasoning as needed before serving. Garnish with extra kaffir lime leaves and basil if desired.