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Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Petronas awards first MBR 2025 contract to Dialog, taps Sabah's hydrocarbons
Petronas said the contract, covering a sub-block area within the Sandakan Basin, was awarded to Dialog Resources Sdn Bhd. (Petronas pic) PETALING JAYA : Petronas has awarded a small field asset production sharing contract (SFA PSC) for the Mutiara Cluster, located off Sabah's coast, through Malaysia Petroleum Management (MPM). In a statement today, Petronas said the contract was offered via its division, MPM, under the Malaysia Bid Round 2025 (MBR 2025) launched earlier this year. Petronas said the contract, covering a sub-block area within the Sandakan Basin, was awarded to Dialog Resources Sdn Bhd. 'It will serve as the sole operator with a 100% participating interest in the block,' it said. The Mutiara Cluster, the first PSC awarded under MBR 2025, is expected to begin production by 2029. Petronas said it comprises five fields, including Nymphe, Nymphe North, Kuda Terbang, Benrinnes and Mutiara Hitam. MPM senior vice-president Bacho Pilong said the award reflects 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 government. '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,' he added. Petronas reiterated its commitment 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. 'Strategically located off Sabah's east coast, the contract is envisioned as a catalyst to open up the Sandakan Basin for further exploration. 'It supports a broader value creation and encourages local participation, in line with Petronas's aspiration to position Malaysia as an attractive destination for upstream investments,' it added.
Borneo Post
2 days ago
- Business
- Borneo Post
Petronas awards Sabah's Mutiara cluster to Dialog in first MBR 2025 Deal
Petronas said the Mutiara Cluster is the first PSC awarded under MBR 2025 and is expected to achieve first production by 2029. —Bernama photo KUALA LUMPUR (June 13): Petroliam Nasional Berhad (Petronas) through Malaysia Petroleum Management (MPM) has awarded the first Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster offshore Sabah under the Malaysia Bid Round 2025 (MBR 2025). The national oil company in a statement today said the contract covers a sub-block within the Sandakan Basin and was awarded to Dialog Resources Sdn Bhd (Dialog) as the sole operator with 100 per cent participating interest. It added that the Mutiara Cluster is the first PSC awarded under MBR 2025 and is expected to achieve first production by 2029. It said the Mutiara Cluster consists of five fields, namely Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam. '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. 'It also supports broader value creation and local participation, in line with Petronas' aspiration to unlock Malaysia's position as an attractive destination for upstream investments,' it said. MPM senior vice president Datuk Bacho Pilong said the award of the Mutiara Cluster marks progress in tapping 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 said. He added that MPM is also looking forward to welcoming more investors to Block SB505, another key opportunity offered under MBR 2025 to unlock the Sandakan Basin's full potential. MBR 2025 oil and gas Petronas sabah
Yahoo
18-02-2025
- Business
- Yahoo
Petronas concludes Malaysia Bid Round 2024 with 14 PSCs
Malaysian state energy company Petronas, through its division Malaysia Petroleum Management (MPM), has concluded the Malaysia Bid Round 2024 (MBR 2024) with the finalisation of two production sharing contracts (PSCs), SB306A and SB306B. These PSCs, located off the coast of Sabah, bring the total number of new PSCs under MBR 2024 to 14. A consortium consisting of INPEX Malaysia E&P SB306A (INPEX), Petronas Carigali and SMJ Energy received the two PSCs. The MBR 2024 has attracted 12 different operators and includes 11 discovered resource opportunities (DRO) and three exploration blocks. Petronas has also entered into technical evaluation agreements (TEAs) for two regions, the Langkasuka Basin in the Straits of Malacca and the Layang-Layang Basin off the coast of Sabah, to enhance Malaysia's hydrocarbon potential. These agreements, involving seven oil and gas companies, namely bp, Eni, INPEX, Petronas Carigali, Pertamina, PTTEP and TotalEnergies, are part of Petronas' efforts to advance exploration in frontier basins. MPM senior vice-president Datuk Ir. Bacho Pilong said: "Malaysia continues to be a top-tier destination for upstream investment, offering extensive opportunities for industry players to expand their portfolios. The 14 PSCs awarded under MBR 2024 and MBR+ reinforces Malaysia's competitive edge and reflects strong investor confidence in the country as a leading Advantaged Energy hub.' Leveraging the success of MBR 2024, MPM has announced the launch of MBR 2025, themed 'Advancing Progress with Advantaged Energy'. The new bid round presents five exploration blocks in the Malay and Penyu Basins offshore Peninsular Malaysia, and the Sandakan Basin off the coast of Sabah. Additionally, three DRO clusters are available in shallow waters, close to existing infrastructure and potential gas markets, which could allow for swift monetisation. Meanwhile, Malaysian Prime Minister Datuk Seri Anwar Ibrahim has stated that Petronas will continue to uphold all of its current domestic and international contractual obligations in Sarawak, reported The Edge Malaysia. This commitment will remain unchanged even as Sarawak's state-owned oil company, Petroleum Sarawak Bhd (Petros), takes over gas distribution in the state as the aggregator, starting 1 March. Anwar told the lower house of parliament: 'This (Petros') role still confirms the previous approval given to Petronas and its subsidiaries.' However, the prime minister did not state if Petronas would have to secure a licence, or be subject to any additional procedures, to carry out petroleum operations in the Malaysian state of Sarawak. "Petronas concludes Malaysia Bid Round 2024 with 14 PSCs" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
