PETRONAS, through Malaysia Petroleum Management (MPM), marked a milestone in the strategic development of the Kebabangan Cluster Production Sharing Contract (KBBC PSC) with the official transfer of operatorship to ConocoPhillips Sabah Gas Ltd., a subsidiary of the global energy company ConocoPhillips.
The transfer took effect on 21 January 2025, making ConocoPhillips Sabah Gas Ltd. the sole operator of the KBBC PSC. Previously, the KBBC PSC was operated by Kebabangan Petroleum Operating Company Sdn. Bhd. (KPOC), a joint operating company comprising PETRONAS Carigali Sdn. Bhd., Shell Energy Asia Limited, and ConocoPhillips Sabah Gas Ltd.
The transfer of the operatorship was witnessed by the Finance Minister of Sabah Datuk Seri Panglima Masidi Manjun, representing Chief Minister of Sabah Datuk Seri Panglima Haji Hajiji Haji Noor, alongside Senior Vice President of MPM Datuk Ir. Bacho Pilong.
Datuk Seri Panglima Haji Hajiji said, 'Sabah is rapidly emerging as a preferred destination for oil and gas investments, thanks to the strategic developments and partnerships championed by PETRONAS and its industry collaborators. These initiatives underscore the vast potential of Sabah’s resources and reinforce our commitment to driving economic growth and creating opportunities for our people. We look forward to further collaboration with PETRONAS in the best interest of Sabah.'
Datuk Ir. Bacho said, 'We thank the Sabah State Government for their support in fostering a conducive environment for oil and gas investments. This collaboration reflects our shared commitment to realising business growth and enhancing energy security. We are also pleased to welcome ConocoPhillips’ expanded role in Malaysia’s upstream sector, which underscores the continued confidence in the nation’s energy potential.'
With an export capacity up to 750 million standard cubic feet of gas per day (MMscfd), the continuation of the KBBC PSC until the end of 2050 and other commercial agreements have been structured to ensure future gas field developments remain economically attractive in supporting Sabah's energy security requirements
PETRONAS remains steadfast in its commitment to ensure an optimal and sustainable supply of oil and gas for energy security, with MPM playing a key role in managing petroleum arrangements and providing stewardship for upstream petroleum activities in Malaysia.
For more information on investment opportunities in Malaysia, please visit https://www.petronas.com/mpm/
Source: PETRONAS
