PETRONAS company announced that it has successfully launched the Malaysia Bid Round (MBR) 2021 through a virtual event, under the theme “Grow Your Energy Portfolio With Us”, a relevant statement published on its website.

According to the statement, the event targets opening more opportunities for investors to explore and exploit hydrocarbon resource potentials in Malaysia.

This bid round offers 13 blocks in locations of Malay basin, Sabah basin, and Sarawak basin; six of which are discovered fields and expected to be a way for more exploration and production.

MBR is an annual Malaysia licensing round organized by PETRONAS to offer investors diverse opportunities in Malaysia ranging from exploration blocks and undeveloped and discovered resources to late life assets.

The event also demonstrates technical study opportunities for potential investors to grow their energy portfolio and create value.

The company is participating this year in the bid round by offering three new production sharing contract (PSC) terms and three large areas for study arrangement.

In addition, it has also incorporated several non-fiscal enhancements for the exploration blocks being offered such as larger block size and flexible bidding options.