Malaysia has enhanced aspects of its fiscal and taxation terms to lure fresh upstream investment to a new offering of acreage for exploration and production.

On Thursday, Petronas, via its Malaysia Petroleum Management (MPM) division, unveiled the acreage opportunities that will benefit from these new terms, which include longer exploration periods for selected blocks.

The Malaysia Bid Round 2022 (MBR 2022) is made up of 14 exploration blocks that host a combined 15 discovered fields, six Discovered Resources Opportunities (DROs) consisting of 37 individual DRO, and one Long Life Asset (LLA) that comprises three fields.