KUALA LUMPUR (Feb 18): National oil and gas company Petroliam Nasional Bhd (Petronas) is offering five exploration blocks offshore under its latest Malaysia Bid Round (MBR) 2025.

The blocks are in the Malay and Penyu Basins, offshore Peninsular Malaysia, as well as the Sandakan Basin, off the coast of Sabah, Petronas said in a statement on Tuesday.

Additionally, three clusters of discovered resource opportunities are available in waters near existing infrastructures and potential gas markets, it added.

Meanwhile, Petronas has concluded the MBR 2024 with the signing of two production sharing contracts (PSCs), namely the SB306A and SB306B, located off the coast of Sabah. The two PSCs were awarded by Malaysia Petroleum Management (MPM), to a consortium comprising INPEX Malaysia E&P SB306A Sdn Bhd (INPEX), Petronas Carigali Sdn Bhd and SMJ Energy Sdn Bhd.

This brings the total to 14 new PSCs signed under the MBR 2024, including MBR+. These involve 12 different operators and encompass 11 discovered resource opportunities and three exploration blocks.

In addition, Petronas has also signed two technical evaluation agreements, namely for the Langkasuka Basin in the Straits of Malacca and the Layang-Layang Basin off the coast of Sabah, as a strategic move to expand Malaysia's hydrocarbon resources.

The technical evaluation agreements, which underscore Petronas’ commitment to unlocking frontier basins and driving exploration at these promising regions, were signed with BP, Eni, INPEX, Petronas Carigali, Pertamina, PTTEP and TotalEnergies.

In the statement, MPM senior vice-president Datuk Bacho Pilong said: "Malaysia continues to be a top-tier destination for upstream investment, offering extensive opportunities for industry players to expand their portfolios. The 14 PSCs awarded under MBR 2024 and MBR+ reinforces Malaysia's competitive edge and reflects strong investor confidence in the country as a leading advantaged energy hub.”

“We appreciate the support, commitment, and collaboration of our industry partners, who have been instrumental in the continued development of Malaysia’s hydrocarbon resources,” he added.