KUALA LUMPUR: PETRONAS Carigali Sdn Bhd (PCSB) has entered into a heads of agreement (HOA) with JX Nippon Oil & Gas Exploration Corporation (JX Nippon) to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh (BIGST) fields, located offshore Kerteh, Terengganu.
In a statement, PCSB said the BIGST opportunity was offered as part of Malaysia Bid Round (MBR) 2020, where it had received several proposals from interested parties.
PCSB and JX Nippon were shortlisted based on the quality of their submissions and unique value propositions.
The business value proposition by PCSB and JX Nippon will form the basis towards the negotiation of the PSC for this cluster.
The BIGST cluster will also be the catalyst that is expected to spur the development of other high contaminant fields in Peninsular Malaysia which was not possible prior to this, due to the lack of complete CO2 handling infrastructure.
