Malaysian national oil company Petronas is preparing to award a parcel of offshore exploration blocks to signal that industry interest is returning in the South-East Asian country’s shallow-water and deep-water plays.
Sources say that Petronas is aiming to award up to nine blocks this month from acreage that was offered via licensing rounds between 2015 and 2017.
If this move comes to fruition, the permit awards are good news, although quite unexpected given the low take-up of Malaysian acreage in recent years, say country watchers.
