Malaysia extends oil and gas bid round deadline

KUALA LUMPUR, June 16, 2022 – Petronas has extended the deadline for Malaysia’s latest oil and gas bid round from June 30 to July 15, 2022, the Malaysian NOC announced today.

The country’s latest bid round was launched in January 2022 and offers 14 offshore exploration blocks with 15 discovered fields, six clusters of discovered resource opportunities and one cluster of mature assets comprising three fields.

The plays are located on Malaysia’s prolific Malay, Sabah and Sarawak basins.

The Meranti, Ubah, Baram Jr., A, C and D discovered resource opportunities are mostly shallow water plays located adjacent to existing upstream facilities.

Additionally, the NOC is offering technical study arrangements for two exploration areas covering four blocks on the Sabah and Malay basins.

The NOC estimates the country’s remaining reserves to be 21 billion boe, with 6 billion boe located in deepwater plays.

Reasons for the deadline extension were not disclosed.

Read our latest insights on: