State-owned Petronas is offering 14 exploration blocks, six clusters of discovered resource opportunities (DRO), and one cluster of late‑life assets (LLA) in its Malaysia Bid Round 2022 launched in late January.
The 14 exploration blocks on offer are in prolific geological provinces within the Malay, Sabah, and Sarawak basins. Most of these blocks contain existing oil and/or gas discoveries.
The six DRO clusters are Meranti, Ubah, Baram Jr., A, C, and D, mostly in shallow water and near existing production infrastructure. In addition, the single LLA, which includes a cluster of three fields named the Abu Cluster, provides the opportunity for a new operator to sweat the remaining oil in place using existing facilities.
Petronas is also offering technical study arrangements for two exploration areas in southern Malay Basin and northwest Sabah Basin to offer investors a better understanding of the potential of the acreages prior to submitting a bid proposal.
Petronas is hosting a virtual data room which will be accessible from launch until the end of June 2022, allowing potential investors to conduct data review during the bid-round period.