Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
Petronas has awarded two new small field asset (SFA) production-sharing contracts (PSCs) to Singapore-listed Rex International for the Rhu-Ara and Diwangsa clusters offshore Peninsular Malaysia.
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
