PETALING JAYA: Dialog Group Bhd
had won a 14-years production sharing contract from Petroliam Nasional Bhd (PETRONAS), for the development of the Mutiara Cluster field in Sabah.
In a Bursa filing, Dialog noted the contract was awarded to its wholly owned subsidiary Dialog Resources Sdn Bhd which will assume 100% participating interest and the role of operator for the marginal field cluster contract.
The 14-year contract includes a two-year pre-development phase to prepare a field development and abandonment plan (FDAP) and assess the asset’s commercial viability, followed by a two-year development period with production targeted by its end.
The remaining 10 years will be allocated for the production phase, subject to PETRONAS’ approval of the FDAP upon reaching the final investment decision.
Dialog said its participation in the Mutiara Cluster contract complements its strategy to continue to expand and diversify across the energy sector and increase opportunities within the group.
“This is expected to create a robust platform for generating long-term sustainable revenue from oil and gas production, reinforcing Dialog’s position as a leading integrated technical service provider,” it added.
Dialog’s shares closed at RM1.57 a piece today.
