Wedoany.com Report-Dec 06, PETRONAS, through its upstream arm Malaysia Petroleum Management (MPM), has awarded PSCs for four new ventures as part of the Malaysia Bid Round (MBR) 2024.

The contracts encompass three DRO clusters and one exploration block, marking a significant development in Malaysia’s oil and gas sector.

The PSCs cover nine fields and one exploration block, all situated offshore Peninsular Malaysia and off the coast of Sabah.

These areas are located within established hydrocarbon basins, offering the advantage of being near existing infrastructure, which is expected to facilitate synergistic development and rapid monetisation of the resources.

The RAJA cluster, comprising the Rhu, Ara and Janglau fields offshore Peninsular Malaysia, was awarded to Dialog Resources under the Small Field Asset PSC. EPOMS has secured the rights to the Erb South field.

In a joint venture, ConocoPhillips Malaysia New Ventures, Sabah Shell Petroleum and Petronas Carigali were awarded the Ubah Cluster, which includes the Ubah, Rempah, Bagang, Batai and Biris fields, under the Deepwater Revenue-over-Cost PSC.