Petroliam Nasional Bhd (Petronas) has awarded new Production Sharing Contracts (PSCs) for six exploration blocks and one Discovered Resource Opportunities (DRO) cluster in Malaysia. The contracts were awarded under the Malaysia Bid Round 2023 and are expected to generate around USD275 million in investments in the form of exploration work activities.
The seven new PSCs were awarded to Petronas Carigali, E&P Malaysia Venture (EPMV), Petroleum Sarawak Exploration & Production (PSEP), SMJ Energy, Inpex Malaysia E&P (INPEX), PT Pertamina Malaysia Eksplorasi Produksi (Pertamina), Jadestone Energy, Sarawak Shell (Shell), and E&P O&M Services (EPOMS).
Covering three regions in offshore Malaysia, the blocks include two in offshore Peninsular Malaysia, three off the coast of Sarawak, and one each in offshore exploration off the coast of Sabah and a DRO cluster.