Petroliam Nasional Berhad (PETRONAS) â Malaysia Petroleum Management (MPM) has officially announced the 2020 Malaysia Bidding Round in an event on 30 October 2019.   Eight exploration blocks, four DRO (Discovered Resources Opportunity) clusters and three Technical Study opportunities are offered. Four of the exploration blocks are located in offshore Peninsular Malaysia (PM-326, PM-416, PM-417 and PM-524) and four are in shallow to deepwater Sabah (SB-408, SB-410, SB-414 and SB-2T).  The available DROs include the Diwangsa Cluster and Rhu-Ara Cluster in offshore Peninsular Malaysia, and the Bambazon Cluster and Kerisi Cluster and in shallow to deepwater Sabah. These assets provide an opportunity for quick monetization of proven oil and gas resources nearby existing facilities.  Technical Study opportunities comprise two late life field technical studies (MASA Cluster in offshore Peninsular Malaysia and Tembungo field in offshore Sabah) and one gas field technical study (BIGST Cluster in offshore Peninsular Malaysia). The technical studies represent an opportunity for suitable operators to design cost-effective strategies in order to produce remaining volumes and to unlock further upside in the fields.  Data room for exploration blocks and DRO clusters will be open for viewing from 2 January 2020 to 29 May 2020 via Zebra Data Sciences Ltd (EzDataRoom). Access to the data room will be available upon request to PETRONAS MPM, pending company evaluation and approval. Approved companies will be requested to sign a confidentiality agreement. Any request for clarification needs to be submitted by 15 April 2020. Deadline for bid submission is on 29 May 2020. Bids evaluation will be conducted in June-July 2020, followed by PSC approval process in Q3 2020. Finally, PSC award to successful bidders is expected to take place in Q4 2020.  For the Technical Study opportunities, approved companies will be requested to sign a confidentiality agreement on 5 November 2019, prior to data review commencement on 20 November 2019. The data review period for late-life assets will end on 30 June 2020 and Expressions of Interest (EOI) will have to be submitted in July 2020. For the high-CO2 asset, deadline for technical report submission is on 30 September 2021.  A detailed individual block description will be available in GEPS.  The tables below would list the assets on offer.          Malaysia: Exploration Blocks 2020             Block            Region            Basin            Terrain            Area (sq km)             PM-326            Peninsular Malaysia            Malay Basin            Shelf            7,727             PM-416            Peninsular Malaysia            Malay Basin            Shelf            6,115             PM-417         Peninsular Malaysia            Malay Basin         Shelf         14,177             PM-524         Peninsular Malaysia            Malay Basin         Shelf         4,738             SB-408            Sabah            Northwest Sabah Province            Shelf            7,458             SB-410            Sabah            Northwest Sabah Province            Shelf            3,619             SB-414            Sabah            Northwest Sabah Province            Onshore/Shelf            5,753             SB-2T            Sabah            Baram Delta / Northwest Sabah Province            Deepwater            4,987        Â           Malaysia: DRO Clusters 2020             Asset            Region            Basin            Terrain            Fields             Diwangsa Cluster            Peninsular Malaysia            Malay Basin            Shelf            Diwangsa, Bubu, Korbu, Lerek             Rhu-Ara Cluster            Peninsular Malaysia            Malay Basin            Shelf            Rhu, Ara             Kerisi Cluster            Sabah            Northwest Sabah Province            Deepwater            Kerisi, Kikeh Deep, Senangin             Bambazon Cluster            Sabah            Northwest Sabah Province            Shelf            Bambazon, Tiga Papan        Â           Malaysia: Technical Studies 2020         Â              Asset            Region            Basin            Terrain            Fields         Study type             MASA            Peninsular Malaysia            Malay Basin            Shelf            Malong, Sotong, Anding         Late life field             Tembungo            Sabah            Northwest Sabah Province            Shelf            Tembungo         Late life field             BIGST            Peninsular Malaysia            Malay Basin            Shelf            Bujang, Inas, Guling, Sepat, Tujoh         Gas field        Â   Fiscal terms for the 2020 Bidding Round include the recent Deepwater R/C (Revenue/Cost) PSC, first introduced in 2018, as well as new non-fiscal incentives. Key features of Deepwater R/C PSC compared with the Shallow Water R/C PSC include longer contract periods for exploration, development and production stages, higher cost ceiling (80%, compared to 70% in Shallow Water R/C), profit sharing up to 80% for both oil and gas (compared to maximum of 70% for oil in Shallow Water R/C).  The non-fiscal incentives include the introduction of phased exploration (to be possibly offered for frontier areas), longer exploration period, arrangements for joint studies and improved bank guarantee.  For further information on exploration blocks and DROs, please contact:  Block Promotion  Dr Jaizan Hardi Mohamed Jais  Senior General Manager  Resource Exploration (REx)  Malaysia Petroleum Management (MPM)  PETRONAS  Â   Zamri Baseri  Head  Block Promotion and Marketing  Resource Exploration (REx)  Malaysia Petroleum Management (MPM)  PETRONAS  Â   Email: bpm.mpm@petronas.com   Â   For further information on Technical Studies, please contact:  Asset/Field Promotion  Aidil Shabudin  Senior General Manager  Resource Development & Management  Malaysia Petroleum Management (MPM)  PETRONAS  Â   Nazrin Banu SH Sajjad Ahmad  Head  Discovered Resource Arrangement  Resource Development & Management  Malaysia Petroleum Management (MPM)  PETRONAS  Â   Email: assetpromotion@petronas.com.my
Malaysia Petroleum Management (MPM) has officially announced the 2020 Malaysia Bidding Round in an event on 30 October 2019. Eight exploration blocks, four DRO (Discovered Resources Opportunity) clusters and three Technical Study opportunities are offered. Four of the exploration blocks are located in offshore Peninsular Malaysia (PM-326, PM-416, PM-417 and PM-524) and four are in shallow to deepwater Sabah (SB-408, SB-410, SB-414 and SB-2T). 