Malaysia launches upstream bid round
KUALA LUMPUR, January 28, 2022 – Petronas has launched its 2022 licensing bid round for upstream assets, the Malaysian NOC announced on Thursday.
The Malaysian Bid Round 2022 includes 14 exploration blocks that include 15 discovered fields, six discovered resource opportunities and one long-life asset consisting of three fields.
The six discovered resource opportunities are Merenti, Ubah, Baram Jr, A, C and D blocks, which are mostly shallow water plays near existing production infrastructure.
The long-life asset includes three fields with existing facilities.
The plays are located on the Malay, Sabah and Sarawak basins.
The enhanced profitability terms PSC is applied to shallow-water blocks. The recently introduced small field asset and late life assets PSCs apply to the discovered resource opportunities and long-life asset offerings.