KUALA LUMPUR: PETRONAS, through Malaysia Petroleum Management (MPM), has announced the awarding of Production Sharing Contracts (PSCs) for three Discovered Resource Opportunities (DRO) Clusters and one exploration block offered under the Malaysia Bid Round (MBR) 2024, which was launched earlier this year. The awarded PSCs cover nine fields and one exploration block, featuring oil and gas discoveries located offshore Peninsular Malaysia and off the coast of Sabah.

According to BERNAMA News Agency, these resources are situated within proven hydrocarbon basins, offering significant development advantages due to their proximity to existing infrastructure. This strategic location enables synergistic development and swift monetisation, ensuring efficient and cost-effective resource extraction.