PETRONAS, through Malaysia Petroleum Management has signed a Small Field Asset (SFA) Production Sharing Contract with Vestigo Petroleum Sdn Bhd for a Discovered Resource Opportunity cluster, which was marketed under the Malaysia Bid Round Plus (MBR+).
Situated off the coast of Sabah, the NBE Cluster which consists of Nosong, Bongawan North and Epidot fields, is a predominantly gas discovery cluster. A comparable field is Samarang, a mature field located 25 km south of Nosong that has demonstrated proven production deliverability.
This marks the inaugural award of PSCs in Sabah under the MBR+ promotion, Petrona is set to sign more PSCs with partners.
MPM acts for and on behalf of PETRONAS in the overall management of Malaysia’s petroleum resources throughout the lifecycle of upstream oil and gas assets. MPM is pursuing deliberate efforts towards achieving low-carbon low-emission operations.
