Malaysia Bid Round 2022: Petronas Offers Exploration Blocks, Discoveries, Late-life assets

Rozanna Latiff
Thursday, January 27, 2022

Malaysia's state energy firm Petronas said it was offering 14 offshore exploration blocks, six clusters of discovered resource opportunities (DRO), and one cluster of late-life assets (LLA) in its annual bid exercise launched on Thursday.

The exploration blocks offered in the Malaysia Bid Round (MBR), aimed at attracting investors to undertake exploration activities, mostly contain existing oil or gas discoveries.

Those are located in prolific geological provinces within the Malay, Sabah, and Sarawak basins, Petronas said in a statement.

The six DRO clusters - Meranti, Ubah, Baram Jr., A, C, and D - were mostly in shallow water and near existing production infrastructure.

"Through our basin study work, we believe there are many more prospects to be identified in the Malaysia basins, with the estimated remaining potential of about 21 billion barrels of oil equivalent," said Mohamed Firouz Asnan, Petronas' senior vice president of Malaysia Petroleum Management.

Petronas was also offering technical study arrangements for two exploration areas in the southern Malay Basin and the northwest Sabah Basin, to help investors understand more of the acreages prior to submitting a bid proposal.

The launch was attended physically by more than 90 potential investors as well over 1,300 potential and existing investors streaming live from North America, Europe, the Middle East, and Asia Pacific. 

(Reporting by Rozanna Latiff; Editing by Martin Petty)

© Petronas

Categories: Energy Industry News Activity Production Asia Regulations

Related Stories

Indonesia's Medco Starts Production at Natuna Sea Fields

Petrovietnam, Petronas Extend PSC for Offshore Block

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

VARD Snags $125M Shipbuilding Deal for Subsea Construction Vessel

Woodside Inks Long-Term LNG Supply Deal with China Resources

CNOOC Starts Production at Two New Oil and Gas Projects

Eco Wave Finds Partner for Wave Energy Project in India

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Current News

Indonesia's Medco Starts Production at Natuna Sea Fields

Indonesia Grants Approval to Kuwaiti Firm for Anambas Block in Natuna Sea

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

Valeura Energy Greenlights Wassana Oil Field Redevelopment off Thailand

Scarborough FPU's Topsides and Hull Come Together in Major Engineering Feat (Video)

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

TMC Books Compressors Orders for FPSO and LNG Vessels

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com