Malaysia’s state energy firm Petroliam Nasional (Petronas) on Wednesday launched a new round of bids for nine oil and gas exploration blocks across the country.
The exploration blocks on offer are in the Sandakan and West Sarawak basins off Borneo, as well as the Malay basin off Peninsular Malaysia, it said in a statement.
The bid round also includes six discovered resource opportunities offering “ready-to-develop” pathways for monetisation, Petronas said. Malaysia Petroleum Management Senior Vice President, Bacho Pilong, said
Malaysia’s upstream industry will require investments of up to MYR60 billion ($15.29 billion) a year to fulfil the country’s growing energy demand and help power its digital economy and manufacturing sectors.
