KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) today launched Malaysia Bid Round 2023 (MBR 2023) themed “Winning the Energy Transition with Our Advantaged Energy”, which saw the participation of more than 50 oil and gas companies, government agencies, foreign trade attachés and energy market consultants.

The annual event, streamed live to potential partners in different parts of the world, offers 10 exploration blocks and two clusters of Discovered Resource Opportunities (DRO).

The 10 exploration blocks on offer are located within the producing Malay, Sabah and Sarawak basins as well as the newly opened Penyu Basin. These blocks cover various geological play settings with sizeable prospects to be explored, providing opportunities for investors looking for “Advantaged Energy” – low-cost, low-carbon energy.

Also offered are the Chenang DRO cluster off the coast of Peninsular Malaysia and the Bambazon DRO cluster off the coast of Sabah. These are shallow water clusters located close to existing producing hubs that will enable quick monetisation.

Petronas senior vice president, Malaysia Petroleum Management, Mohamed Firouz Asnan said, “Petronas continues to shape the exploration and development strategies to unlock the full potential of Malaysia E&P by promoting investments in focused areas to deliver the ‘Advantaged Energy’ required by our customers.

“We continue to provide opportunities to companies with distinctive capabilities – opportunities that are accompanied by the right fiscal terms to maximise shareholder returns for both host authority and investors,” he added.

The MBR 2023 virtual data room will be open from until the bid deadline submission on Sept 15.

Earlier today, Petronas signed production sharing contracts for nine exploration blocks marketed under MBR 2022 with the winning bidders consisting of four existing and four new investors. The contracts are expected to see investment amounting to RM1.7 billion in exploration drilling capital, particularly in deepwater areas and underexplored formations.

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