PETRONAS Awards Six Blocks from Malaysia Bid Round 2021

Source: www.gulfoilandgas.com 12/22/2021, Location: Asia

PETRONAS has awarded six of the 13 offshore exploration blocks offered in the recently concluded Malaysia Bid Round (MBR) 2021.

The six blocks, awarded to both existing and new players, are Blocks SB412, 2W, X, SK427, SK439 and SK440. These awards are subject to the signing of the Production Sharing Contracts (PSCs) between the relevant parties by the first quarter of 2022.

The MBR 2021 themed “Grow Your Energy Portfolio With Us” was virtually launched on 26 February 2021, with over 250 potential and existing investors streaming live from North America, Europe and Asia Pacific.

The success of MBR 2021 campaign is mainly attributed to the significant enhancements that were introduced, such as the Enhanced Profitability PSC Terms for shallow water blocks, larger block sizes and flexible bidding options.

PETRONAS Senior Vice President of Malaysia Petroleum Management Mohamed Firouz Asnan said, “These awards further reinforce Malaysia’s attractiveness as a destination for industry players seeking to grow their energy portfolio and thrive in the energy transition. Under our right asset, right player strategy, supported by a progressive fiscal regime, we hope to fully maximise the long-term value of the hydrocarbon resources in Malaysia sustainably, at the time when demand is expected to increase,” he added.

MBR is an annual Malaysia licensing round organised by PETRONAS which offers investors diverse upstream opportunities including exploration blocks, undeveloped discovered resources and late life assets.

MBR 2022 themed, "Your Advantaged Energy Is Here" will be launched early next year offering more opportunities for potential investors to secure their “advantaged barrels” and create value.


Egypt >>  6/27/2022 - Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed with Roger Planck, Chairman of the Board of Directors of the American ...
Mongolia >>  6/27/2022 - The AIM-listed Mongolian oil explorer Petro Matad Limited ("Petro Matad" ) releases its audited final results for the fiscal year that ended on Decemb...

Uruguay >>  6/27/2022 - With assets in oil production, appraisal, development, and exploration across the region, Challenger Energy (CEG), an oil and gas company with a focus...
Indonesia >>  6/24/2022 - A Production Sharing Contract (PSC) has been signed with PETRONAS North Ketapang Sdn. Bhd., a subsidiary of PETRONAS, for the North Ketapang Block, wh...

Namibia >>  6/22/2022 - Global Petroleum Limited provides an update on its operations in Namibia and Italy.

Namibia
On 25 April 2022 the Company announced th...

Pakistan >>  6/22/2022 - Oil and Gas Development Limited, being the operator of Kalchas Exploration Licence (operator, 50%) along with Mari Petroleum Company Limited (MPCL, 50...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.