Petronas awards offshore Malaysia blocks, opens 2024 bid round

Offshore staff

KUALA LUMPUR, MalaysiaPetronas has awarded production sharing contracts (PSCs) for six exploration blocks and one discovered resource opportunities (DRO) cluster under the Malaysia Bid Round 2023.

Datuk Ir. Bacho Pilong, senior vice president of Malaysia Petroleum Management, said, “With these awards, all exploration blocks offshore Sarawak basin and Northwest Sabah basin have been fully licensed. Similarly in Peninsular Malaysia, we are pleased to see the ever-growing demand in its proven basins, which are supported by well-established and easily accessible infrastructure.”

The blocks under the PSCs span across three regions in offshore Malaysia comprising two blocks in offshore Peninsular Malaysia, three blocks off the coast of Sarawak as well as one exploration block and one DRO cluster situated off the coast of Sabah.

Offshore Peninsular Malaysia, Petronas Carigali and EPMV gained Block PM342, while Jadestone Energy and Petronas Carigali secured Block PM428.

Offshore Sarawak, Petronas Carigali is partnered by EPMV and PSEP in Block SK330 and by INPEX, Pertamina and PSEP in Block SK510.

Shell, Petronas Carigali and PSEP are the partners for Block 5E.

Offshore Sabah, Petronas Carigali operates Block SB403, accompanied by EPMV and SMJ Energy, and EPOMS received the Bambazon (DRO) Cluster.

INPEX said its participation in exploration Block SK510 followed two others awarded to the company in February 2023, 4E and SK418. It expects the new concession to further its goal of shifting its business more toward natural gas.

Petronas has also launched the Malaysia Bid Round 2024, including five exploration blocks in the emerging Langkasuka basin in the Straits of Melaka, and the Semporna and Sandakan basins offshore eastern Sabah.

Newly acquired multi-client data are said to have improved subsurface imaging providing a fresh view of multiple geological plays with large potential. 

Also on offer are three DRO clusters offered in the shallow waters off Peninsular Malaysia and Sabah as well as two DRO clusters in deepwater offshore Sabah, close to infrastructure.


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