PETRONAS is offering 14 exploration blocks, six clusters of Discovered Resource Opportunities (DRO) and one cluster of Late-Life Assets (LLA) in its Malaysia Bid Round 2022 (MBR 2022) launched on 27 January 2022.
The launch, themed “Your Advantaged Energy is Here”, was attended physically by more than 90 potential investors as well as by over 1,300 potential and existing investors streaming “live” from North America, Europe, the Middle East, and Asia Pacific.
The 14 exploration blocks on offer are located in prolific geological provinces within the Malay, Sabah, and Sarawak basins. Most of these blocks contain existing oil and/or gas discoveries that will accelerate monetisation activities.
The six DRO clusters featured in the MBR 2022 are Meranti, Ubah, Baram Jr., A, C, and D, mostly in shallow water and are nearby existing production infrastructure. In addition, the single LLA, which includes a cluster of three fields named the Abu Cluster, provides opportunity for the new operator to sweat the remaining oil in place using existing facilities.
PETRONAS Senior Vice President of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan said, “Through our basin study work, we believe there are many more prospects to be identified in the Malaysia basins, with the estimated remaining potential of about 21 billion barrels of oil equivalent (BBOE). We welcome players with unique capabilities to unlock the potential in both old and new places.”
