PETRONAS awards seven new PSCs under Malaysia bid round 2023, launches Malaysia bid round 2024

A sign for a Petroliam Nasional Bhd (Petronas) gas station stands near the Petronas KLCC Twin Towers in Kuala Lumpur, Malaysia. - Goh Seng Chong/Bloomberg

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) today awarded production sharing contracts (PSCs) for six exploration blocks and one discovered resource opportunities (DRO) cluster marketed under the Malaysia Bid Round 2023 (MBR 2023), which is expected to garner more than RM1.3 billion worth of capital investment to the country in the form of exploration work activities.

The national oil firm said the seven new PSCs were awarded to Petronas Carigali Sdn Bhd, E&P Malaysia Venture Sdn Bhd, Petroleum Sarawak Exploration & Production Sdn Bhd, SM Energy Sdn Bhd, INPEX Malaysia E&P, PT Pertamina Malaysia Eksplorasi Produksi, Jadestone Energy (PM) Inc, Sarawak Shell Bhd, and E&P O&M Services Sdn. Bhd. (EPOMS).