By DayakDaily Team
KUALA LUMPUR, July 26: Petroliam Nasional Berhad (PETRONAS) signed Production Sharing Contracts (PSCs) for three clusters of Discovered Resource Opportunities (DRO) marketed under the Malaysia Bid Round Plus (MBR+) Round I.
In a press release today, PETRONAS said these clusters are located offshore Peninsular Malaysia.
Under the Small Field Asset (SFA) Cluster PSC, three fields which consists of Bubu, Bunga Tasbih and Enau fields were awarded to Ping Petroleum Sdn Bhd and Duta Marine Sdn Bhd, while another SFA Cluster PSC signed consists of four fields namely the Puteri, Padang, Penara and North Lukut was awarded to Jadestone Energy (PM) Inc.
Meanwhile, the Pertang, Kenarong, Noring and Bedong fields were awarded to Hibiscus Oil & Gas Malaysia Limited and PETRONAS Carigali Sdn Bhd under the Improved Revenue Over Cost terms.
“We are delighted to see our operators continue to expand their portfolio in Malaysia. Their niche technical expertise and agility are crucial in navigating the unique challenges of monetising and developing DRO assets expediently and safely,” said Malaysia Petroleum Management (MPM) senior vice president Datuk Bacho Pilong.
“MPM will continue to provide the necessary support and foster collaboration to facilitate the monetisation of these assets. Furthermore, MBR+ and PETRONAS myPROdata have been pivotal in opening doors for potential investors and existing players to pursue business growth opportunities within Malaysia,” he added.
The awarded PSCs encompass a portfolio of 12 fields, comprising oil and gas assets within the Malay basin in Peninsular Malaysia.
Located within a proven hydrocarbon basin and in close proximity to existing infrastructure, these DRO clusters offer synergistic development opportunities for monetisation.
In the coming weeks, PETRONAS will be signing more MBR+ PSCs.
Introduced in October 2023, MBR+ complements the annual Malaysia Bid Round licensing providing an additional avenue for investors to participate in DRO and Late Life Assets in Malaysia.
This is exclusively available to PETRONAS myPROdata paid subscribers. For more information on oil and gas investment opportunities available in Malaysia, visit https://www.petronas.com/myprodata/. — DayakDaily
