Petronas awarded Production Sharing Contracts (PSCs) for three discovered resource opportunities (DRO) and one exploration block offshore Peninsular Malaysia and off the coast of Sabah.
Awarded through Malaysia Petroleum Management (MPM), the contracts cover nine fields and one exploration block. The resources, which lie within proven hydrocarbon basins, offer development advantages due to their proximity to existing infrastructure, Petronas said.
RAJA cluster, comprising Rhu, Ara, and Janglau fields offshore Peninsular Malaysia was awarded to Dialog Resources Sdn. Bhd. Erb South field was awarded to EPOMS Sdn. Bhd. Both were awarded under the Small Field Asset PSC.
Under the Deepwater Revenue-over-Cost PSC, Ubah Cluster, comprising Ubah, Rempah, Bagang, Batai, and Biris fields off the coast of Sabah was awarded to ConocoPhillips Malaysia New Ventures Ltd., Sabah Shell Petroleum Co. Ltd., and Petronas Carigali Sdn. Bhd. (PCSB).
Additionally, exploration Block PM515 was awarded under the Enhanced Profitability Terms PSC to PCSB and E&P Malaysia Venture Sdn. Bhd.
The awards were offered under Malaysia Bid Round (MBR) 2024.
