Kota Kinabalu: Petroleum exploration on Sabah’s East Coast is gaining momentum as Petronas seeks bids from potential Production Sharing Contractors to share the opportunity and the risks.
According to Petronas at the recent Sabah Oil, Gas & Energy Conference & Exhibition 2025, there is another Sabah East Coast prime oil and gas exploration block – named SB505 which is open for bidding under its Malaysia Bid Round (MBR) 2025, as part of its Sabah opportunities.
This SB505 block of 2,750sq km is near to the Mutiara Cluster which was awarded to the Dialog Group Berhad. The water depth of this block varies from 5 metres to 200 metres. The fiscal term is Shallow Water EPT.
window.googletag = window.googletag || {cmd: []};googletag.cmd.push(function() {googletag.defineSlot('/22826383987/dailyexpress_inline', [1, 1], 'gpt-passback').addService(googletag.pubads());googletag.enableServices();googletag.display('gpt-passback');});The EPT will replace the 1997 Standard Revenue Over Cost (R/C) PSC Terms for future shallow water exploration contracts.
