Malaysia Petroleum Management (MPM), PETRONAS announced the award of the Production Sharing Contract (PSC) for the Permata Cluster located off the coast of Sabah, representing the successful conclusion of the three Discovered Resource Opportunities (DRO) clusters and the progression of an additional exploration block offered under the Malaysia Bid Round 2025 (MBR 2025) launched early last year.
This is a clear signal of continued investor confidence in Sabah’s upstream potential and reaffirmed its strong partnership with the Sabah State Government through a document exchange ceremony in Kuala Lumpur, witnessed by the Chief Minister of Sabah and President and Group CEO of PETRONAS.
Awarded under the Small Field Asset (SFA) PSC, the Permata Cluster, comprising the South East Collins, Lokan, Axinit, Realgar and Manikam fields, has been awarded to Bridge Petroleum Limited, marking their entry into Malaysia as the sole operator. Headquartered in London, Bridge Petroleum brings a strong track record in subsea field development and project execution, positioning the company for a meaningful role in advancing offshore capabilities in Sabah. The award reflects Malaysia’s growing attractiveness to international independent operators and underscores a strategic focus on innovation, diversity, and unlocking value from smaller offshore fields.
Covering an area with existing oil and gas discoveries, the Permata Cluster is expected to unlock approximately 10 million barrels of oil equivalent (MMboe) of untapped resources. Bridge Petroleum plans to implement subsea tie-back solutions to nearby facilities, with first commercial production targeted as early as 2029. Beyond resource development, the project is expected to generate economic spin-offs, create skilled employment opportunities and support local service providers throughout its lifecycle.
Sabah Chief Minister Datuk Seri Panglima Hj Hajiji Hj Noor said 'These initiatives reflect the State Government’s long-term strategy to strengthen Sabah’s energy sector through high-quality investments and close collaboration with PETRONAS. With opportunities now expanding across the state from the west to the east coast, we welcome reputable investors to partner with us in ensuring sustainable and lasting benefits for the people of Sabah.'
Complementing the PSC award, PETRONAS and Sabah Energy Corporation Sdn. Bhd. (SEC) exchanged the Heads of Agreement (HoA) for the Mutiara Cluster gas market security, further strengthening collaboration between PETRONAS and the Sabah State Government. The HoA outlines key principles towards a future Gas Sales Agreement to support the Mutiara Cluster development by the first quarter of 2029.
President and Group CEO of PETRONAS, Tan Sri Tengku Muhammad Taufik, said, 'The milestone achieved today reflects PETRONAS’ continued commitment to unlocking Malaysia’s energy potential through collaborative partnerships. This development contributes to regional growth, particularly in Sabah, by creating opportunities for participation across the local energy ecosystem.'
Awarded under a Small Field Asset (SFA) PSC to DIALOG Resources Sdn. Bhd. in June 2025, the Mutiara Cluster is envisaged as a pioneering upstream development on the Sabah East Coast. It is expected to catalyse future gas and oil monetisation in the eastern corridor, stimulate economic activity and reinforce Sabah’s role as a key energy growth area.
The strong partnership is further reinforced through the Joint Task Force involving PETRONAS and Sabah state agencies, aimed at accelerating upstream and downstream developments along the Sabah East Coast. Together, these initiatives reflect a coordinated and long-term approach towards fully unlocking Sabah’s energy potential, strengthening energy security and creating lasting economic opportunities for the state and its people.
Governed by the Petroleum Development Act (1974), PETRONAS remains committed to ensuring an optimal and sustainable supply of oil and gas for energy security, with MPM playing a crucial role in managing the country’s petroleum resources and providing stewardship for upstream petroleum activities in Malaysia. More Exploration and DRO opportunities will be offered in the upcoming Malaysia Bid Round 2026 which will be launched on 10 February 2026.
For more information, visit https://www.petronas.com/mpm/
Source: PETRONAS
