Latest news with #SmallFieldAssetProductionSharingContract
Borneo Post
a day 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
Barnama
a day ago
- Business
- Barnama
PETRONAS Awards First MBR 2025 PSC to Dialog, Unlocking East Coast Sabah's Hydrocarbon Potential
KUALA LUMPUR, June 13 (Bernama) -- PETRONAS, through Malaysia Petroleum Management (MPM), awarded a Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster, off the coast of Sabah, offered under the Malaysia Bid Round 2025 (MBR 2025) launched earlier this year. The SFA PSC, which covers a sub-block area located within the Sandakan Basin was awarded to Dialog Resources Sdn Bhd (Dialog) as the sole operator with one hundred percent (100%) participating interest in the block. The Mutiara Cluster comprises five fields, namely Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam.
