KUALA LUMPUR, March 21 – PETRONAS, represented by Malaysia Petroleum Management (MPM), has inked Production Sharing Contracts (PSC) for two Discovered Resource Opportunities (DRO) clusters off the coast of Peninsular Malaysia. The BIGST Cluster, awarded to PETRONAS Carigali Sdn Bhd and JX Nippon Oil & Gas Exploration (BIGST) Sdn Bhd, and the Tembakau Cluster, awarded to IPC Malaysia B.V and IPC SEA Holding B.V, mark significant strides in bolstering Malaysia’s energy portfolio. With a shared commitment to fostering energy security and supporting the nation’s energy transition, these contracts underscore Malaysia’s appeal as an attractive investment destination in the upstream sector.
Datuk Ir Bacho Pilong, PETRONAS Senior Vice President of MPM, highlighted the strategic importance of these contracts, emphasizing their role in enhancing energy security while aligning with sustainability goals. The development of the BIGST Cluster, incorporating Carbon Capture and Storage (CCS) technology, signifies a landmark initiative in the region, showcasing Malaysia’s commitment to managing emissions and promoting innovative solutions in the oil and gas industry. With an estimated recovery of approximately 4 trillion standard cubic feet (Tscf) from BIGST and 260 billion standard cubic feet (Bscf) from Tembakau Cluster, these projects are poised to significantly boost gas supply in Peninsular Malaysia, further solidifying PETRONAS’s position as a key player in the global energy landscape.
