Petronas Awards PSC For Permata Cluster Off Sabah Coast

KUALA LUMPUR, Feb 9 (Bernama) -- Petroliam Nasional Bhd (Petronas) via Malaysia Petroleum Management (MPM) today announced the award of the production sharing contract (PSC) for the Permata Cluster, located off the coast of Sabah, to London-based Bridge Petroleum Ltd. 

In a statement today, Petronas said this marks the successful conclusion of three Discovered Resource Opportunities (DRO) clusters and the progression of an additional exploration block offered under the Malaysia Bid Round 2025 (MBR 2025), launched early last year.

The national oil company said the award was “a clear signal of continued investor confidence in Sabah’s upstream potential.”

The partnership with the Sabah state government was reaffirmed through a document exchange ceremony in Kuala Lumpur, witnessed by Sabah Chief Minister Datuk Seri Hajiji Noor and Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz.

The Permata Cluster, comprising the South East Collins, Lokan, Axinit, Realgar and Manikam fields, was awarded under the Small Field Asset (SFA) PSC to Bridge Petroleum, marking the company's entry into Malaysia as the sole operator. 

“Covering an area with existing oil and gas discoveries, the Permata Cluster is expected to unlock approximately 10 million barrels of oil equivalent (MMboe) of untapped resources. 

“Bridge Petroleum plans to implement subsea tie‑back solutions to nearby facilities, with first commercial production targeted as early as 2029," it said. 

Petronas said the project is expected to generate economic spin‑offs, create skilled employment opportunities and support local service providers throughout its lifecycle.

Hajiji said these initiatives reflect the state government’s long-term strategy to strengthen Sabah’s energy sector through high-quality investments and close collaboration with Petronas.

"With opportunities now expanding across the state from the west to the east coast, we welcome reputable investors to partner with us in ensuring sustainable and lasting benefits for the people of Sabah," he said. 

Tengku Muhammad Taufik said the milestone achieved today reflects Petronas’ continued commitment to unlocking Malaysia’s energy potential through collaborative partnerships.

“This development contributes to regional growth, particularly in Sabah, by creating opportunities for participation across the local energy ecosystem,” he said.  

Complementing the PSC award, Petronas and Sabah Energy Corporation Sdn Bhd (SEC) exchanged the heads of agreement (HoA) for the Mutiara Cluster gas market security, further strengthening collaboration between Petronas and the Sabah government. 

The HoA outlines key principles towards a future gas sales agreement to support the Mutiara Cluster development by the first quarter of 2029, it said. 

Awarded under an SFA PSC to Dialog Resources Sdn Bhd in June 2025, Petronas said the Mutiara Cluster is envisaged as a pioneering upstream development on the Sabah east coast.

“It is expected to catalyse future gas and oil monetisation in the eastern corridor, stimulate economic activity and reinforce Sabah’s role as a key energy growth area,” Petronas said. 

It added that the strong partnership is further reinforced through the joint task force involving Petronas and Sabah state agencies, aimed at accelerating upstream and downstream developments along the Sabah east coast.

-- BERNAMA