Petronas has signed production sharing contracts (PSCs) with several oil and gas companies for three clusters of discovered resource opportunities (DRO) in offshore Peninsular Malaysia. This is part of the Malaysia Bid Round Plus (MBR+) initiative, which offers additional investment opportunities for DRO and late-life assets in Malaysia.
The contracts cover three blocks within the Malay basin. Jadestone Energy won the Penara, Puteri, Padang, and North Lukut fields. Hibiscus Oil & Gas Malaysia and Petronas Carigali were awarded the Pertang, Kenarong, Noring, and Bedong fields. Petronas aims to ensure energy security and decarbonise operations to achieve net-zero emissions by 2050.