Yesterday saw the launch of 2023 Malaysia Bid Round, along with announcements of further awards from the 2022 bid round.
There have been a number of awards previously announced around the DROs offered as a part of MBR 2022, but yesterday saw the announcement of awards for 9 exploration blocks (out of the 14 offered). A summary of the awards is below (I will add further details as I locate them):
- PM327: PETRONAS Carigali, and E&P Malaysia Venture (EPMV).
- PM340: Skye UMDP Exploration, and PETRONAS Carigali.
- PM342: Not awarded.
- PM428: Not awarded.
- SK325: PETRONAS Carigali (60% + operator), PTTEP (32.5%), PETROS (7.5%).
- SK328: PETRONAS Carigali, EPMV, PETROS.
- SK330: Not awarded.
- SK418: PETRONAS Carigali (52.5% + operator), INPEX (40%), PETROS (7.5%).
- 2A: Longboat Energy (36.75% + operator), Topaz Number One (15.75%), PETRONAS Carigali (40%), PETROS (7.5%).
- 3B: Shell, PETRONAS Carigali, PETROS.
- 4E: INPEX (52.5% + operator), PETRONAS Carigali (40%), PETROS (7.5%).
- SB304: Not awarded.
- SB306: Not awarded.
- SB409: PETRONAS Carigali, EPMV, SMJ Sdn Bhd.
As expected, PETRONAS Carigali have taken a stake in all of the awarded blocks, with Shell also taking a stake in one Block.
- E&P Malaysia Venture Sdn Bhd (EPMV): I understand they are a 100% subsidiary of PETRONAS.
- Petroleum Sarawak EP (PSEP) / PETROS: the Sarawak state oil company. I would assume they have taken 7.5% in all of the awards.
- SMJ Sdn Bhd: the Sabah state oil company.
- Skye UMDP Exploration: Not 100% sure here. But I believe they are a partnership of Skye Energy Ventures (an Australian E&P firm) and UMDP (a Malaysian service company).
- INPEX: good to see them showing a fresh interest in Malaysia, where their current production is limited to an indirect stake in the SK-10 asset. It can be assumed there focus is on the gas potential.
- Longboat Energy: a Norwegian E&P company making its first move into Southeast Asia.
- Topaz Number One: A recently (mid-2022) established UK-based firm. The directors will be very familiar to those of us who have been in the region for a while.
The MBR 2023 was also launched and included 10 exploration blocks and two DROs.
- Chenang Cluster: consists of the Chenang, Melawati and Ketumbar fields. The Chenang and Melawati fields were previously offered as a Risk Service Contract (RSC) in 2012. Vestigo produced oil from the fields from 2015, with a development based on a central processing platform and an FSO. The 2023 offering focuses on the gas potential.
- Bambazon Cluster: consists of the Bambazon, Tiga Papan and Mengkira fields. The Bambazon and Tiga Papan fields were previously offered in MBR 2020. The 2023 offering focuses on both the oil and gas potential.
