PETRONAS has signed Production Sharing Contracts (PSCs) for nine exploration blocks marketed under the Malaysia Bid Round 2022 (MBR 2022) with the winning bidders consisting of four existing and four new investors. The PSCs were signed by Firouz, in the presence of Executive Vice President and Chief Executive Officer of Upstream, Datuk Adif Zulkifli.
- PETRONAS Carigali Sdn Bhd (PCSB) and E&P Malaysia Venture Sdn Bhd (EPMV) for Block PM327
- Skye UMDP Exploration Bhd and PCSB for Block PM340
- PCSB, PTTEP Sarawak Oil Limited and Petroleum Sarawak EP (PSEP) for Block SK325
- PCSB and INPEX Malaysia E&P SK418 Sdn Bhd and PSEP for Block SK418
- PCSB and EPMV; and PSEP for Block SK328
- Longboat Energy (2A) Limited, Topaz Number One Ltd, PCSB and PSEP for Block 2A
- INPEX Malaysia E&P 4E Sdn Bhd, PCSB and PSEP for Block 4E
- Sarawak Shell Bhd, PCSB and PSEP for Block 3B
- PCSB and EPMV; and SMJ Sdn Bhd for Block SB409
Commenting on the PSCs signing, PETRONAS Senior Vice President, Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan, said: 'The signings of the exploration PSCs today and the three DRO clusters PSCs signed last month represent the highest number of PSC awarded in Malaysia within a single year since 2010. The first of the nine PSCs signed today also marks the 200th PSC awarded by PETRONAS since the maiden PSC signed in 1976. We look forward to working very closely with our newly signed PSC partners in discovering new molecules, so that together we will grow and create value in a sustainable manner.'
The nine exploration PSCs are expected to see an investment amounting to RM1.7 billion in exploration drilling capital, particularly in the deepwater areas and the underexplored formations. In addition, the award of these nine blocks has also reduced the number of Malaysia’s open blocks by about a third, in line with MPM’s efforts to increase exploration investments in the country.
Apart from issuing and managing petroleum arrangements in Malaysia, PETRONAS, through MPM, is the country’s oil and gas industry shaper and investment enabler that steers upstream petroleum activities in Malaysia.
For more information on oil and gas investment opportunities in Malaysia including further details on MBR 2023, please visit https://www.petronas.com/mpm/
Source: PETRONAS
