KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has signed production sharing contracts (PSCs) for nine exploration blocks marketed under Malaysia Bid Round 2022 (MBR) with an investment amounting RM1.7 billion in exploration drilling capital, particularly in the deepwater areas and the underexplored formations.
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The 10 exploration blocks on offer are within the producing Malay, Sabah and Sarawak basins as well as the newly opened Penyu basin. These blocks cover various geological play settings with sizeable prospects to be explored.
Petronas has awarded Ping Petroleum two production sharing contracts (PSCs) for discovered oil and gas resources in Malaysia marking the company’s debut