By DayakDaily Team
KUCHING, June 13: Petroliam Nasional Berhad (PETRONAS), through Malaysia Petroleum Management (MPM), has awarded a Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster, located off the east coast of Sabah, to Dialog Resources Sdn Bhd.
According to a media release today, the award marks the first PSC under the Malaysia Bid Round 2025 (MBR 2025), launched earlier this year.
The contract covers a sub-block within the Sandakan Basin, with Dialog appointed as the sole operator holding 100 per cent participating interest.
The Mutiara Cluster comprises five fields — Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam.
Targeting first production by 2029, the strategically positioned SFA PSC is poised to unlock the potential of the Sandakan Basin and catalyse new exploration activities.
The project is expected to drive broader value creation and enhance local industry participation, aligning with PETRONAS’ aspiration to position Malaysia as a premier destination for upstream investments.
MPM senior vice president Datuk Ir Bacho Pilong said the award signifies a significant step in tapping the untapped resources off Sabah’s east coast.
“We welcome Dialog as a valued partner in our effort to deliver early and sustainable value from the Sandakan Basin. This award underscores growing confidence in Malaysia’s upstream prospects and the attractive fiscal terms under MBR 2025.
“MPM remains committed to fostering impactful partnerships and catalysing investments that advance national energy goals and drive regional development in close collaboration with the Sabah government.” he said.
Bacho also encouraged further investor participation, especially in Block SB505, currently offered under MBR 2025, as another key opportunity to unlock the basin’s potential.
PETRONAS reiterated its commitment to ensuring a secure and sustainable energy supply, with MPM continuing its role in managing Malaysia’s petroleum resources and providing strategic oversight of upstream activities nationwide. — DayakDaily
