• Natural Gas News

    Petronas awards 6 offshore oil, gas blocks

Summary

The blocks have been awarded under the Malaysia Bid Round 2021.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Security of Supply, Corporate, Exploration & Production, Investments, Political, Licensing rounds, Supply/Demand, News By Country, Malaysia

Petronas awards 6 offshore oil, gas blocks

Malaysian state-owned energy company Petronas has awarded six of the 13 offshore exploration blocks offered in the recently concluded Malaysia Bid Round (MBR) 2021, it said on December 22.

The six blocks, awarded to both existing and new players, are Blocks SB412, 2W, X, SK427, SK439 and SK440. These awards are subject to the signing of the production sharing contracts between the relevant parties by the first quarter of 2022. The MBR 2021 was virtually launched in February.

MBR is an annual Malaysia licensing round organised by Petronas which offers investors upstream opportunities including exploration blocks, undeveloped discovered resources and late life assets.