OIL and gas (O&G) remains a cornerstone of the nation’s economy, generating up to RM300 billion in annual revenue.
US supermajor ExxonMobil is transferring the operatorship of two production sharing contracts offshore Malaysia to Petronas Carigali, the upstream division of national energy behemoth Petronas, and not completely pulling the plug there.
Petroleum Nasional Bhd (Petronas) has signed a small field asset (SFA) production sharing contract (PSC) with Vestigo Petroleum Sdn Bhd for a discovered resource opportunity cluster marketed under the Malaysia Bid Round Plus (MBR+).