PETRONAS, through Malaysia Petroleum Management (MPM), has successfully concluded the Malaysia Bid Round 2024 (MBR 2024) with the signing of two Production Sharing Contracts (PSCs), SB306A and SB306B, located off the coast of Sabah. The PSCs were awarded to a consortium comprising INPEX Malaysia E&P SB306A Sdn. Bhd. (INPEX), PETRONAS Carigali Sdn. Bhd. (PETRONAS Carigali), and SMJ Energy Sdn. Bhd. (SMJ Energy).
This milestone brings the total to 14 new PSCs signed under MBR 2024, including MBR+, involving 12 different operators. These contracts encompass 11 Discovered Resource Opportunities (DRO) and three exploration blocks.
In a strategic move to expand Malaysia’s hydrocarbon resources, PETRONAS has also signed Technical Evaluation Agreements (TEAs) for the Langkasuka Basin in the Straits of Malacca and the Layang-Layang Basin off the coast of Sabah. These agreements, made with seven leading oil and gas companies – BP, Eni, INPEX, PETRONAS Carigali, Pertamina, PTTEP, and TotalEnergies – underscore PETRONAS’ commitment to unlocking frontier basins and driving exploration at these promising regions.
Building on the momentum of MBR 2024, MPM is pleased to launch MBR 2025 under the theme “Advancing Progress with Advantaged Energy”. This bid round offers five exploration blocks in the Malay and Penyu Basins offshore Peninsular Malaysia, and the Sandakan Basin, off the coast of Sabah, each presenting diverse geological plays with significant resource potential. Additionally, three DRO clusters are available in shallow waters near existing infrastructures and potential gas markets, enabling rapid monetisation.
