Middle East

Petronas Wins Malaysia’s Six Offshore Blocks


December 22, 2021

Malaysia Offshore Platform-Credits: wanfahmy / Adob ​​eStock

Petronas of Malaysia has awarded 6 of the 13 offshore exploration blocks offered in the recently signed Malaysia Bidding Round (MBR) 2021. At this event, PETRONAS will provide oil company exploration blocks, undeveloped discovered resources, and assets of later years.

The six blocks awarded to both existing and new players in Malaysia’s offshore oil and gas sector are Block SB412, 2W, X, SK427, SK439, and SK440.

These awards are subject to the signing of a Production Sharing Agreement (PSC) between stakeholders by the first quarter of 2022.

Petronas considered the round a success and attributed the result to “significant enhancements introduced, such as shallow blocks, larger block sizes, and improved profitability PSC conditions for flexible bidding options.”

Petronas Malaysia Senior Vice President of Petroleum Management Mohammed Phillows Asnan “These awards further enhance Malaysia’s appeal as a destination for industry players seeking to expand their energy portfolio and thrive in energy transitions. Appropriate assets underpinned by a progressive financial system, appropriate Under the player strategy, we want to maximize it completely. The long-term value of Malaysia’s hydrocarbon resources will be sustainable when demand is expected to increase. ” Added.

“MBR2022 themed” Your lucrative energy is here “will be launched early next year, allowing potential investors to secure their” lucrative barrel “and create value. We offer the opportunity, “said Petronas.

Offshore engineers have contacted Petronas for more information about the block and bid round winners. If there is a reply, I will update the article.

https://www.oedigital.com/news/493038-petronas-awards-six-offshore-blocks-in-malaysia-bid-round-2021 Petronas Wins Malaysia’s Six Offshore Blocks

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