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

Rozanna Latiff
Thursday, January 27, 2022
© Petronas

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

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

CNOOC Starts Production at Two New Oil and Gas Projects

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

Marine Masters Secures Wellhead Platforms Installation Job Off India

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

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

McDermott Concludes Work at PTTEP’s Kikeh Gas Field Off Malaysia

Current News

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

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

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

photo

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