The 10 exploration blocks on offer are within producing Malay, Sabah, and Sarawak basins as well as newly opened Penyu basin. These blocks cover various geological play settings with sizeable prospects to be explored, the company said in a release on Feb. 15.
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 close to existing producing hubs.
The MBR 2023 virtual data room will be open from today until the bid deadline submission on Sept. 15, 2023.
Petronas also signed Production Sharing Contracts (PSCs) for nine exploration blocks marketed under MBR 2022 with winning bidders consisting of four existing and four new investors.
The nine exploration PSCs are expected to see an investment amounting to RM1.7 billion in exploration drilling capital, particularly in deepwater areas and underexplored formations, Petronas said.
In addition, the award of these nine blocks has also reduced the number of Malaysia’s open blocks by about a third, in line with MPM’s efforts to increase exploration investments in the country.
