(WO) – PETRONAS awarded Production Sharing
Contracts (PSCs) for six exploration blocks and
one Discovered Resource Opportunities (DRO)
cluster marketed under the Malaysia Bid Round
2023 (MBR 2023), expected to garner more than
RM1.3 billion ($274.5 million) worth of capital
investment to the country in the form of
exploration activities.
The seven new PSCs were awarded to PETRONAS
Carigali Sdn. Bhd. (PETRONAS Carigali), E&P
Malaysia Venture Sdn. Bhd. (EPMV), Petroleum
Sarawak Exploration & Production Sdn. Bhd.
(PSEP), SMJ Energy Sdn. Bhd. (SMJ Energy), INPEX
Malaysia E&P (INPEX), PT Pertamina Malaysia
Eksplorasi Produksi (Pertamina), Jadestone
Energy (PM) Inc., Sarawak Shell Bhd. (Shell),
and E&P O&M Services Sdn. Bhd. (EPOMS).
“With these awards, all exploration blocks
offshore Sarawak basin and Northwest Sabah basin
have been fully licensed. Similarly in
Peninsular Malaysia, we are pleased to see the
ever-growing demand in its proven basins, which
are supported by well-established and easily
accessible infrastructure,” said Senior Vice
President of Malaysia Petroleum Management
(MPM), Datuk Ir. Bacho Pilong, who represented
PETRONAS at the award ceremony held in Kuala
Lumpur.
The blocks under the PSCs span across three
regions offshore Malaysia comprising two blocks
in offshore Peninsular Malaysia, three blocks
off the coast of Sarawak and one exploration
block and one DRO cluster situated off the coast
of Sabah. On the same day, PETRONAS also
launched the Malaysia Bid Round 2024 (MBR 2024),
offering five exploration blocks and five
clusters of DRO to potential investors.
Themed “Transforming Your Future with Advantaged
Energy,” MBR 2024 was attended by more than 50
oil and gas companies, government agencies,
foreign trade attachés, and energy market
consultants. The five exploration blocks are
located in emerging basins, namely the
Langkasuka basin in the Straits of Melaka,
Semporna and Sandakan basins off the eastern
coast of Sabah, where the newly acquired
multi-client data improves the subsurface
imaging and offers a fresh look at multiple
geological plays with large potential.
