PETRONAS, through Malaysia Petroleum Management (MPM), awarded a Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster, off the coast of Sabah, offered under the Malaysia Bid Round 2025 (MBR 2025) launched earlier this year.
The SFA PSC, which covers a sub-block area located within the Sandakan Basin was awarded to Dialog Resources as the sole operator with 100% participating interest in the block. The Mutiara Cluster comprises five fields, namely Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam.
The Mutiara Cluster is the first PSC awarded under MBR 2025 and is expected to achieve first production by 2029. Strategically positioned off the coast of Sabah’s East Coast, the SFA PSC is envisioned as a catalyst to open up Sandakan Basin for further exploration for broader value creation and local participation, in line with PETRONAS' aspiration to unlock Malaysia’s position as an attractive destination for upstream investments.
Senior Vice President of MPM, Datuk Ir. Bacho Pilong said, 'The award of the Mutiara Cluster marks a step forward in unlocking the untapped potential of Sabah’s East Coast. We welcome Dialog as a valued partner in this journey to deliver early and sustainable value from the Sandakan Basin. This award reflects the growing confidence in Malaysia’s upstream opportunities and the competitive terms offered under MBR 2025. As an industry shaper, MPM remains committed to facilitating impactful partnerships and catalysing investments that not only advance national energy aspirations but also uplift regional development in collaboration with the Sabah State Government.'
He added, 'We also look forward to welcoming more investors to participate in Block SB505, offered in MBR 2025, the next gateway to unlock the potential of the Sandakan Basin.'
PETRONAS remains committed to ensuring an optimal and sustainable energy supply, with MPM playing a crucial role in managing the country’s petroleum resources and providing stewardship for upstream petroleum activities in Malaysia.
For more information on investment opportunities in Malaysia, visit https://www.petronas.com/mpm/.
Source: PETRONAS
