Petronas' Malaysia bid round 2021 attracts over 250 potential, existing investors

KUALA LUMPUR: Petronas launched the Malaysia Bid Round (MBR) 2021, offering 13 exploration blocks, at a virtual event on Feb 26 which attracted over 250 potential and existing investors.

These potential bidders streamed live from North America, the United Kingdom, Europe as well as Asia-Pacific, the national oil company said.

"MBR 2021, themed ‘Grow Your Energy Portfolio With Us’, is set to open up more investment opportunities for investors to explore and monetise hydrocarbon resource potentials in Malaysia,” it said in a statement today.

Of the 13 blocks on offer, three are situated in the Malay basin (PM340, PM327 and PM342), four in the Sabah basin (SB409, SB412, 2W and X) and the remaining six are located in the Sarawak basin (ND3A, SK4E, SK328, SK427, SK439 and SK440).

"Included in blocks PM342, SK4E, SK328 and SB409 are six discovered fields as a base for investors to explore more, and help accelerate monetisation. MBR 2021 also features the offering of four deepwater blocks (ND3A, 4E, 2W and X) off the coast of Sarawak and Sabah which saw prominent exploration discoveries in recent years," it said.

MBR is an annual Malaysia licensing round organised by Petronas which offers investors diverse opportunities in Malaysia ranging from exploration blocks and undeveloped, discovered resources to late life assets as well as technical study opportunities for potential investors to grow their energy portfolio and create value.

While MBR this year focuses on exploration blocks, Petronas said the opportunities around late life assets and undeveloped smaller discovered fields will be made available in the second half of this year.

Senior vice president of Malaysia petroleum management, Mohamed Firouz Asnan, said as an industry, Petronas needs to continue with exploration activities to seize the immense opportunities that the energy transition presents.

"While exploration and production opportunities may appear everywhere around the world, I believe you will find ‘advantaged barrels’ here in Malaysia in diverse forms; and when you seize the right opportunities that complement your portfolio, you will not only balance but also strengthen your portfolio.

"We hope to see new investors this year, including existing players to further grow their portfolio in Malaysia,” he added. - Bernama