Sabah, Sarawak among 9 blocks under MBR 2026

KUALA LUMPUR (Feb 11): Petroliam Nasional Bhd (Petronas) via the Malaysia Petroleum Management (MPM) has launched the Malaysia Bid Round 2026 (MBR 2026) under the theme “Advantaged Energy: Accelerating and Shaping Tomorrow” aimed at strengthening Malaysia’s position as a premium investment destination.

Petronas in a statement yesterday said this year’s MBR introduces nine exploration blocks across Malaysia to present a “balanced mix of opportunities.”

The offering includes a high-impact frontier block in the Sandakan Basin, high-potential blocks in the emerging West Sarawak Basin, and near-field blocks in the mature Malay Basin featuring new play ideas.

MBR 2026 also features six Discovered Resource Opportunities (DROs) providing ready-to-develop pathways for monetisation.

Petronas said investors and solution providers will have access to extensive technical data, an enabling resource development platform and phased development options which provide ability for early monetisation and near-term value creation.

MPM senior vice president Datuk Bacho Pilong said Malaysia’s energy demand is expected to continue rising, with the upstream sector playing a key role in supporting the country’s expanding digital economy and manufacturing base.

“The economic spin-off benefits also extend to downstream industries while
providing feedstock to many others.

“To fuel Malaysia’s upstream engine with a steady flow of opportunities, we require upstream investment in the tune of RM50 billion to RM60 billion each year,” he said.

The launch of MBR 2026 also highlighted ongoing industry momentum, with several strategic partnerships and development milestones announced alongside the bid round.

Strengthening the investment landscape, Petronas signed a series of Memorandum of Understanding (MoUs), underscoring industry confidence and reinforcing Malaysia as high-growth energy hub.

Among them were MoUs with Global FCNG Inc, ZDA Corporation Sdn Bhd and MTC Engineering Sdn Bhd, aimed at expanding technology-driven solutions and partnership opportunities.

In advancing its energy transition and carbon capture, utilisation and storage (CCUS) ambitions, Petronas is extending collaboration beyond traditional production sharing contract (PSC) boundaries under its Borderless initiative.

A memorandum of agreement was signed with Petronas Carigali Sdn Bhd and Hibiscus Oil & Gas Malaysia Ltd.

Through the CBijak Malaysia Landscape framework, the initiative integrates work plans across PSCs offshore Malaysia to optimise resource development and strengthen commercially viable carbon dioxide management solutions.

“Together, these developments reinforce Malaysia’s position as a premium upstream destination where regulatory clarity, resource potential, and ecosystem collaboration converge to create sustained value in delivering both energy security and transition readiness,” added Petronas.

The MBR 2026 virtual data room is now open. Further information is available at www.malaysiabidround.com.