Japan’s Largest Petroleum E&P Company Wins Licenses in Malaysia

Mar 2023

Following the Malaysia Bid Round 2022 (MBR22), Inpex Corp, a Japanese integrated energy producer, secured two offshore hydrocarbon exploration licenses in Sarawak waters. The country’s oil and gas resource custodian, Petronas, has been driving opportunities in the local exploration and production (E&P) sector through targeted investments under MBR.

Inpex has signed production-sharing contracts with Petroliam Nasional Berhad (Petronas), Petronas Carigali Sdn. Bhd. (PCSB) and Petroleum Sarawak Exploration & Production (PSEP) to explore offshore hydrocarbon licenses in deep water Block 4E and shallow water Block SK418 northeast of Sarawak. Block 4E covers an area of 7,647 km2, and Block SK418 covers an area of 5,806 km2. These are the first exploration licenses awarded to Inpex in Malaysia since the company’s successful bid for two exploration licenses off the coast of Sabah in 2012.

Furthermore, Inpex has signed an agreement with another local energy firm, Petroleum Sarawak Berhad (Petros), for the potential development of a carbon capture and storage (CCS) project in Sarawak. The project will focus on CO2 emissions from high-CO2 gas fields, petrochemical industries, power plants, manufacturing industries and other sources in Sarawak.

In February 2023, Petronas announced the Malaysia Bid Round 2023 (MBR 2023), which includes the granting of 10 exploration blocks and two clusters of Discovered Resource Opportunities (DRO).

(Sources: Petronas; Offshore-energy)

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