Kuala Lumpur, Malaysia – Petronas, through its subsidiary Malaysia Petroleum Management (MPM), has announced the awarding of production sharing contracts (PSCs) for three discovered resource opportunities (DRO) clusters and one exploration block.

Small Field Asset PSC Awards

Raja Cluster: Dialog Resources Sdn Bhd was awarded the PSC for the Raja cluster, located offshore Peninsular Malaysia. This cluster comprises the Rhu, Ara, and Janglau fields.
Erb South Field: EPOMS Sdn Bhd was awarded the PSC for the Erb South field.

Deepwater Revenue-over-Cost PSC Award

Ubah Cluster: ConocoPhillips Malaysia New Ventures Ltd, Sabah Shell Petroleum Company Ltd, and Petronas Carigali Sdn Bhd (PCSB) were jointly awarded the PSC for the Ubah cluster, located offshore Sabah. The cluster includes the Ubah, Rempah, Bagang, Batai, and Biris fields.

Enhanced Profitability Terms PSC Award

Block PM515: PCSB and E&P Malaysia Venture Sdn Bhd were awarded the PSC for Block PM515, an exploration block.

MPM’s Perspective 

MPM Senior Vice President Bacho Pilong expressed satisfaction with the award of these PSCs, highlighting the strong track records and capabilities of the awarded companies. He emphasized the potential of Block PM515 for significant discoveries and the accelerated development prospects of the DRO clusters due to their size and proximity to existing infrastructure.

Integration Potential

Bacho noted the potential synergies between the Ubah cluster and the Kebabangan field, both operated by the same contractors. This integration could lead to operational efficiencies and cost savings.

Looking Ahead to MBR 2025

Petronas is gearing up for the launch of MBR 2025 in the first quarter of 2025, which offers a significant opportunity for investors to explore Malaysia's upstream oil and gas potential.