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Borneo Post
2 days ago
- Business
- Borneo Post
Sabah assured of role in state oil and gas projects – Masidi
Sabah will not be left out of participation in its growing oil and gas industry. KOTA KINABALU (July 8): Sabah will not be left out of participation in its growing oil and gas (OnG) industry, assured State Finance Minister Datuk Seri Masidi Manjun. Masidi told the State Assembly here Tuesday, in response to an additional question by Senallang assemblyman Datuk Seri Shafie Apdal who queried why a West Malaysian-based company was awarded by Petroliam Nasional Berhad (Petronas) a Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster offshore exploration project near Sandakan. Shafie had questioned the state's firmness on policies to safeguard its natural resources such as OnG, wondering why SMJ Energy (SMJE) or Sabah International Petroleum (SIP) did not directly discuss with the parties as he rued Sabah's miniscule five percent royalty on oil in the state while Petronas has had control of the remaining 95 percent over the decades. In response, Masidi explained that oil exploration costs lots of money, and the Mutiara Cluster project itself involves a lot of capital expenditure which the state does not have, even though the project is just a preliminary exploration stage and is not actually producing any oil yet. He said SIP and SMJE also do not have the expertise to be eligible for the international bidding, urging for practicality as they are not able to get involved in everything with their current capabilities, while clarifying that bidding for oil exploration and smaller contract works are very different. 'Having said that, this does not mean that we do not have any involvement at all. Insyallah, Petronas or SMJE will make an announcement later on. 'Trust me, SMJE has a scope of participation in Sabah's oil exploration or industry, so don't say that we are giving everything away to others,' he said. The minister also dashed comparisons between Sabah's progress in the field to Sarawak's, saying that the neighbouring state is over a hundred years ahead of Sabah because that was when oil was discovered in the state, while Sabah is still in its infancy. Shafie then pointed out that it is not about comparing Sabah and Sarawak, but Sabah must have firmness and clear-cut policies when it comes to its resources and raw materials to benefit its downstream sector, like Sarawak has been doing. Masidi, who is also Karanaan assemblyman, replied that his opinion is that nothing has been given to Sarawak which Sabah did not and will not get so far, and that Sabah's policy on its natural resources including OnG is very, very easy. 'That is why we signed a Commercial Collaboration Agreement with Petronas – we have our rights and a committee to determine how far is our involvement in the oil sector in Sabah. 'This is what we have been doing. The difference is, we do our work silently and show results. Some just talk without anything to show for. 'Trust me YB. We were both civil cervants, but I also know a bit about oil even though I am new to the industry,' he said.
Borneo Post
18-06-2025
- Business
- Borneo Post
Petronas awards PSC for Temaris cluster small field asset
Bacho, (11th from left) together with representatives from Seascape Energy, Afed Texcal and Posco International, commemorating the signing of the Temaris Cluster SFA PSC and two technical evaluation agreements. KUALA LUMPUR (June 18): Petroliam Nasional Bhd (Petronas), through Malaysia Petroleum Management (MPM), has awarded the Temaris Cluster small field asset production sharing contract (SFA PSC) to Seascape Energy Asia (One) Sdn Bhd, a wholly owned subsidiary of Seascape Energy Asia plc (Seascape). Located in the Malay Basin offshore Peninsular Malaysia, the Temaris Cluster comprises the Tembakau and Mengkuang gas fields. This marks the second SFA PSC awarded from the three Discovered Resource Opportunities (DRO) clusters offered under the Malaysia Bid Round 2025 launched earlier this year. Strategically located near existing production infrastructure, the Temaris Cluster benefits from development synergies that enable, cost efficiency and accelerated monetisation of resources. MPM senior vice president, Datuk Bacho Pilong, said, 'Petronas is actively pursuing the development of Peninsular Malaysia's hydrocarbon resources. 'With an expected output of approximately 100 million standard cubic feet of gas per day (MMscfd) and first production targeted by 2029, the Temaris Cluster SFA PSC marks another milestone in our continuous efforts to support the nation's energy security while driving sustainable growth in the industry.' As the sole party to the SFA PSC, Seascape will mark its operational debut in Malaysia, affirming the country's position as a leading energy investment destination. As part of the strategic move to expand Peninsular Malaysia's hydrocarbon resources, Petronas has also signed Technical Evaluation Agreement (TEA) with Afed Texcal Energy Ventures (Afed Texcal) for Langkasuka basin in the Straits of Malacca and POSCO International (Posco) for Layang-Layang Basin off the coast of Sabah. The collaboration highlights Petronas' continued commitment to activate frontier basins and advancing exploration efforts in this promising area. Petronas remains committed to ensuring an optimal and sustainable supply of oil and gas for energy security, with MPM playing a crucial role in managing the country's petroleum resources and providing stewardship for upstream petroleum activities in Malaysia. oil and gas Petronas production sharing contract Seascape Energy Asia
Barnama
17-06-2025
- Business
- Barnama
PETRONAS Boosts Malaysia's Energy Security With Award Of PSC For Temaris Cluster Small Field Asset
KUALA LUMPUR, June 17 (Bernama) -- PETRONAS, through Malaysia Petroleum Management (MPM), has awarded the Temaris Cluster Small Field Asset Production Sharing Contract (SFA PSC) to Seascape Energy Asia (One) Sdn Bhd, a wholly owned subsidiary of Seascape Energy Asia plc (Seascape). Located in the Malay Basin offshore Peninsular Malaysia, the Temaris Cluster comprises the Tembakau and Mengkuang gas fields. This marks the second SFA PSC awarded from the three Discovered Resource Opportunities (DRO) clusters offered under the Malaysia Bid Round 2025 launched earlier this year.
Borneo Post
13-06-2025
- Business
- Borneo Post
Petronas awards Sabah's Mutiara cluster to Dialog in first MBR 2025 Deal
Petronas said the Mutiara Cluster is the first PSC awarded under MBR 2025 and is expected to achieve first production by 2029. —Bernama photo KUALA LUMPUR (June 13): Petroliam Nasional Berhad (Petronas) through Malaysia Petroleum Management (MPM) has awarded the first Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster offshore Sabah under the Malaysia Bid Round 2025 (MBR 2025). The national oil company in a statement today said the contract covers a sub-block within the Sandakan Basin and was awarded to Dialog Resources Sdn Bhd (Dialog) as the sole operator with 100 per cent participating interest. It added that the Mutiara Cluster is the first PSC awarded under MBR 2025 and is expected to achieve first production by 2029. It said the Mutiara Cluster consists of five fields, namely Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam. 'Strategically positioned off the coast of Sabah's East Coast, the SFA PSC is envisioned as a catalyst to open up Sandakan Basin for further exploration. 'It also supports broader value creation and local participation, in line with Petronas' aspiration to unlock Malaysia's position as an attractive destination for upstream investments,' it said. MPM senior vice president Datuk Bacho Pilong said the award of the Mutiara Cluster marks progress in tapping the untapped potential of Sabah's East Coast. 'We welcome Dialog as a valued partner in this journey to deliver early and sustainable value from the Sandakan Basin. 'This award reflects the growing confidence in Malaysia's upstream opportunities and the competitive terms offered under MBR 2025. 'As an industry shaper, MPM remains committed to facilitating impactful partnerships and catalysing investments that not only advance national energy aspirations but also uplift regional development in collaboration with the Sabah State Government,' he said. He added that MPM is also looking forward to welcoming more investors to Block SB505, another key opportunity offered under MBR 2025 to unlock the Sandakan Basin's full potential. MBR 2025 oil and gas Petronas sabah
Barnama
13-06-2025
- Business
- Barnama
PETRONAS Awards First MBR 2025 PSC to Dialog, Unlocking East Coast Sabah's Hydrocarbon Potential
KUALA LUMPUR, June 13 (Bernama) -- PETRONAS, through Malaysia Petroleum Management (MPM), awarded a Small Field Asset Production Sharing Contract (SFA PSC) for the Mutiara Cluster, off the coast of Sabah, offered under the Malaysia Bid Round 2025 (MBR 2025) launched earlier this year. The SFA PSC, which covers a sub-block area located within the Sandakan Basin was awarded to Dialog Resources Sdn Bhd (Dialog) as the sole operator with one hundred percent (100%) participating interest in the block. The Mutiara Cluster comprises five fields, namely Nymphe, Nymphe North, Kuda Terbang, Benrinnes, and Mutiara Hitam.
