PETALING JAYA: Dialog Group Bhd
has announced that the field development and abandonment plan for the Baram Junior Cluster small field asset production sharing contract (PSC) has received a final investment decision of US$235mil.
The plan, which was signed by Petroliam Nasional Bhd (PETRONAS), Dialog Resources Sdn Bhd and Petroleum Sarawak Exploration and Production (PSEP) on Jan 17, 2023, was approved by PETRONAS on Jan 8, 2025.
In a filing with Bursa Malaysia, Dialog said the 14-year PSC has a two-year pre-development phase (including feasibility studies) that allows Dialog Resources and PSEP to finalise the field development plan and move into a two-year development phase with first commercial production expected by the end of the phase.
The production phase will continue for the remaining 10 years or up to the expiry of the contract, whichever is earlier.
