malaysiang
Petroliam Nasional Bhd (Petronas) has signed production sharing contracts (PSCs) for three clusters of discovered resource opportunities (DRO) under the Malaysia bid round plus (MBR+) round one.
These clusters are situated offshore Peninsular Malaysia.
The small field asset (SFA) cluster PSC includes the Bubu, Bunga Tasbih and Enau fields, which have been awarded to Ping Petroleum Sdn Bhd and Duta Marine Sdn Bhd.
Another SFA cluster PSC has been awarded for four fields: Puteri, Padang, Penara and North Lukut, to Jadestone Energy (PM) Inc.
Additionally, the Pertang, Kenarong, Noring and Bedong fields have been granted to Hibiscus Oil and Gas Malaysia Ltd and Petronas Carigali Sdn Bhd under the improved revenue over cost terms.
Malaysia Petroleum Management (MPM) senior vice president Datuk Ir Bacho Pilong said MPM will continue to provide support and foster collaboration to facilitate the monetisation of these assets.
He also noted that MBR+ and Petronas myPROdata have been instrumental in opening doors
for potential investors and existing players to explore business growth opportunities within Malaysia.
‘We are delighted to see our operators continue to expand their portfolios in Malaysia.
‘Their niche technical expertise and agility are crucial in navigating the unique challenges of monetising and developing DRO assets efficiently and safely,’ said Bacho.
The awarded PSCs cover a portfolio of 12 fields, featuring oil and gas assets within the Malay basin in Peninsular Malaysia.
These DRO clusters, located in a proven hydrocarbon basin and near existing infrastructure, present synergistic development opportunities for monetisation.
In the coming weeks, Petronas will sign additional MBR+ PSCs.
Launched in October 2023, MBR+ complements the annual Malaysia bid round licensing by offering an extra avenue for investors to engage in DRO and late-life assets in Malaysia.
This is available exclusively to Petronas myPROdata paid subscribers.
Source: BERNAMA News Agency
