Prep the chicken and veggies. Slice chicken into thin strips for quick cooking.
Slice the bell pepper and onion, and trim the green beans. Tear the lime leaves to help release their oils.
Warm the coconut cream. Open the coconut milk without shaking. Spoon off the thick cream from the top into a skillet or wok.
Heat over medium until it gently simmers and looks slightly oily around the edges. This step helps the curry paste bloom.
Fry the curry paste. Add the Panang curry paste to the hot coconut cream. Stir and cook for 2–3 minutes until fragrant and deepened in color.
If it sticks, add a splash of oil.
Add aromatics and peanut butter. Stir in the torn lime leaves and peanut butter (or ground peanuts). Mix until the paste and peanuts are fully combined and glossy.
Build the sauce. Pour in the remaining coconut milk and the chicken broth. Stir well and bring to a gentle simmer.
Season the base. Add fish sauce and brown sugar.
Start with the lower amounts; you can adjust later. The sauce should taste savory, slightly sweet, and a little salty.
Cook the chicken. Add the sliced chicken and reduce heat to medium-low. Simmer gently for 6–8 minutes, stirring occasionally, until the chicken is just cooked through and tender.
Vegetables go in. Add the onion and green beans first; cook for 2–3 minutes.
Stir in the red bell pepper and cook another 2–3 minutes. You want the veggies crisp-tender, not soft.
Finish with brightness. Stir in lime juice and Thai basil leaves. Taste and adjust: more fish sauce for salt, sugar for balance, or lime for extra zip.
If it’s too thick, add a splash of broth; too thin, simmer 1–2 minutes to reduce.
Serve hot. Spoon over steamed jasmine rice. Garnish with sliced chilies, chopped peanuts, or extra basil if you like.