ConocoPhillips eyes investment in Sabah, reaffirms commitment to M'sia
ConocoPhillips CEO Ryan Lance said the company is in discussions with Petronas regarding investment opportunities in Malaysia. (EPA Images pic)
PETALING JAYA : US oil giant ConocoPhillips has set its sights on potential investments in Sabah while reaffirming its long-term commitment to Malaysia.
Its CEO, Ryan Lance, today said the company is in discussions with Petroliam Nasional Bhd (Petronas) regarding investment opportunities in the country, Bernama reported.
'We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,' Lance said during a dialogue session at the Energy Asia 2025 conference in Kuala Lumpur.
ConocoPhillips confirmed its exit from the Salam-Patawali deepwater oil and gas field off Sarawak's coast in April, a decision which it said was based on prioritisation within its global portfolio.
The deepwater oil and gas field, discovered with Petronas in 2018, was developed under a 50:50 joint venture.
In January, a ConocoPhillips subsidiary, ConocoPhillips Sabah Gas Ltd, became the sole operator of the Kebabangan Cluster Production Sharing Contract (KBBC PSC).
The Kebabangan gas field, which produces 140 MBOED (million barrels of oil equivalent per day), is located 130km offshore northwest of Sabah waters in the South China Sea.
KBBC PSC was previously operated by Kebabangan Petroleum Operating Company Sdn Bhd, a joint operating company comprising Petronas Carigali Sdn Bhd, Shell Energy Asia Limited, and ConocoPhillips Sabah Gas Ltd.
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