Petronas, via Malaysia Petroleum Management, has signed two production sharing contracts (PSCs) offshore Sabah, concluding the Malaysia Bid Round 2024 awards.
The PSCs went to a consortium comprising INPEX Malaysia E&P, Petronas Carigali and SMJ Energy. Water depths range from 0-400 m for Block SB306A (operated by INPEX) and 0-1,400 m for Block SB306B (operated by Petronas Carigali).
In total, 14 new PSCs were awarded under Malaysia Bid Round 2024, covering 11 discovered resource opportunities and three exploration blocks.
In addition, Petronas has signed technical evaluation agreements for two offshore frontier regions: the Langkasuka Basin in the Straits of Malacca and the Layang-Layang Basin offshore Sabah. The co-signatories are bp, Eni, INPEX, Petronas Carigali, Pertamina, PTTEP and TotalEnergies.
