Malaysia’s upstream sector is entering a new phase of resource development, with PETRONAS stepping up efforts to unlock marginal and stranded hydrocarbon resources while accelerating exploration and production.
Through Malaysia Petroleum Management (MPM), PETRONAS has awarded the Estuary Cluster Small Field Asset Production Sharing Contract (SFA PSC) to Harvester Energy (Malaysia) Sdn Bhd and handed over seismic data for the Mutiara Cluster to support further exploration.
The Estuary Cluster comprises the Lerek, Korbu and Diwangsa fields in the Malay Basin. Its development will explore a technology-led, shallow-water subsea approach designed to accelerate first production, optimise capital expenditure and enable the commercialisation of resources that may otherwise remain undeveloped.
Meanwhile, the Mutiara Cluster seismic data handover provides a foundation for further exploration and resource evaluation, supporting Malaysia’s continued efforts to sustain domestic oil and gas production.
These developments highlight the growing importance of innovative field development, exploration technology and fit-for-purpose solutions in maximising Malaysia’s remaining hydrocarbon resources.
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Source: NewStraitsTimes
