Malaysia Petroleum Management
The annual Malaysia Petroleum Management’s (MPM) 2020 Malaysia Bidding Round (2020 MBR) launch saw an overwhelming response with a total of 175 guests from 88 oil and gas companies in attendance, on 30 October 2019 at the Kuala Lumpur Convention Centre, to promote exploration acreages and discovered resources to potential investors.
The 2020 MBR showcased a total of eight (8) exploration blocks and four (4) Discovered Resource Opportunity (DRO) clusters, covering more than 50,000km2 of exploration acreage and a total of 16 fields for investors to bid on. The blocks are located in the Central Malay and Penyu Basin in Peninsular Malaysia, as well as in the shallow and deep water areas in Sabah.
The event was jointly organised by Resource Exploration (REx) & Resource Development & Management (RDM), which is part of MPM’s line department. Officiating the event was Senior Vice President of MPM, Mohamed Firouz Asnan, accompanied by the Senior General Manager of REx, Dr Jaizan Hardi and Senior General Manager of RDM, Aidil Shabudin.
In his keynote address, Firouz highlighted the benefits of investing in the Malaysian oil and gas industry, including the ease of doing business in Malaysia. He said that companies have the opportunity for quick and early monetisation as compared to other areas in South East Asia through various exploration and DROs with vast coverage of oil and gas facilities.
The exploration blocks in Peninsular Malaysia offers diverse opportunities ranging from stratigraphic and channel plays, thin or unseen reservoir to Oligocene synrift play. Meanwhile, the blocks in Sabah offers other opportunities such as inverted anticline play, deepwater exploration, carbonate buildup and Oligocene synrift play.
The selected DROs will synergise with the existing infrastructures and will be opened to potential investors for new development frontiers, with an expected volume of 290 MMBOE contingent resource for development.
In addition, PETRONAS is also offering opportunities for technical studies under two types of assets. The first type covers High CO₂ fields – Bujang, Inas, Guling, Sepat NAG and Tujoh (BIGST) to leverage on potential partners to develop innovative technology for high CO₂ content gas fields while, the second type covers Late Life Assets study for potential investors to propose solutions after evaluating the data.
Guests were invited to view the 2020 MBR blocks and fields on the new MPM website (https://www.petronas.com/mpm), that had gone live the morning of the 2020 MBR launch and has all the relevant technical and commercial details.
The data review and the issuance of the bidding package will commence in January 2020 through an online virtual data room (VDR) and will be concluded on 29 May 2020. The bid evaluation is expected to be conducted from June to July 2020 followed by the Production Sharing Contract (PSC) award process by Q3 2020.
