The Malaysian oil and gas company Petronas is offering 14 exploration blocks, six clusters of Discovered Resource Opportunities (DRO) and one cluster of Late Life Assets (LLA) in its Malaysia Bid Round 2022 (MBR 2022). Most of the 14 exploration blocks, located in geological provinces within the Malay, Sabah and Sarawak basins, contains existing oil and/or gas discoveries. Petronas aims at attracting investors to conduct exploration activities. The six DRO clusters are mostly in shallow water and nearby existing production infrastructure. In addition, the single LLA, which includes a cluster of three fields named the Abu Cluster, provides opportunity for the new operator to sweat the remaining oil in place using existing facilities.
Malaysia's gas reserves are quite large (2 217 bcm end of 2020); they represent around 35 years of production. The oil reserves are more modest (490 Mt, i.e. 15 years of production).
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