PETRONAS Carigali Sdn Bhd (PCSB) and JX Nippon Oil & Gas Exploration Corporation (JX Nippon) signed a head of agreement (HOA) to work together on creating a proposal to capitalize on the gas potential within the Bujang, Inas, Guling, Sepat, and Tujoh (BIGST) fields offshore Kerteh, Terengganu.
The PCSB and JX Nippon corporate value proposition will serve as the cornerstone for negotiating the PSC for this cluster.
Hasliza Othman, the chief executive officer of PCSB, and Yasuto Ariga, the managing director and chief representative of JX Nippon in Malaysia, signed the HOA on behalf of their respective companies. Mohamed Firouz Asnan, Senior Vice President of PETRONAS Malaysia Petroleum Management (MPM), and Aidil Shabudin, Senior General Manager of MPM’s Resource Development and Management, both saw the signing event.
Aidil said, “The gas supply from BIGST fields is important for Peninsular Malaysia’s energy security given the significant potential that exists within the cluster. Carbon capture and storage (CCS) technology will be key solutions in monetizing the fields since these fields contain high carbon dioxide (CO2) and will be the first CCS project in Peninsular Malaysia.”
Due to the absence of a complete CO2 management infrastructure, the BIGST cluster is also anticipated to act as a catalyst to encourage the development of other high contaminant fields in Peninsular Malaysia.
“PCSB is expected to bring to the table its capability in developing CCS projects building on its recent experience on Kasawari CCS, that was sanctioned recently. PETRONAS would move closer towards its aspiration of achieving Net Zero Carbon Emissions (NZCE) by 2050 through these carbon reduction solutions,” he added.
Through MPM, PETRONAS oversees upstream petroleum operations in Malaysia and administers the country’s petroleum agreements. Find out more about Malaysia’s investment potential by visiting