Kota Kinabalu: Sabah’s East Coast oil and gas potential is being explored with for first time Petronas offering five exploration blocks for bidding by oil and gas companies under its latest Malaysia Bid Round (MBR) 2025.
Petronas said it is offering the Sandakan Basin, off Sabah, besides the Malay and Penyu Basins, off Peninsular Malaysia, including three clusters of discovered resource opportunities that are available in waters near existing infrastructures and potential gas markets.
Advertisement (adsbygoogle = window.adsbygoogle || []).push({});Petronas also signed two technical evaluation agreements, namely for the Layang-Layang Basin off Sabah, as a strategic move to expand Malaysia’s hydrocarbon resources, besides the Langkasuka Basin in the Straits of Malacca.
Petronas stated that it has concluded the MBR 2024 with the signing of two production sharing contracts (PSCs), namely the SB306A and SB306B, located off the coast of Sabah. The two PSCs were awarded by Malaysia Petroleum Management (MPM) to a consortium comprising Inpex Malaysia E&P SB306A Sdn Bhd (Inpex), Petronas Carigali Sdn Bhd and SMJ Energy Sdn Bhd.