Petronas has announced plans to offer 13 offshore exploration blocks in Malaysia Bid Round (MBR) 2021 scheduled for end-February 2021. MBR 2021 will feature enhancements including larger block areas coupled with flexible bidding options and low entry costs. This also includes six discovered fields and four deepwater blocks adjacent to the coast of Sarawak and Sabah.
In addition, Petronas has awarded the contract for Block SB405 to ConocoPhillips East Malaysia Limited (COPEM). The block covers an area of 5,857 square km and is located in North East Sabah Basin. The award of this contract is expected to bolster exploration activities off the coast of Sabah, a state located on the island of Borneo.