Malaysian energy giant Petronas has pulled the plug — at least for time being — on a standalone development of its deep-water Limbayong field development offshore Sabah, East Malaysia just weeks after launching its latest market exercise to evaluate potential floating production, storage and offloading vessels for the project.

Petronas on Wednesday confirmed to Upstream that it was back to the drawing board for Limbayong, dashing the short-term hopes of floater players which have had this job on their radar for several years now.