ConocoPhillips, Petronas sign agreement to assess Layang-Layang Basin offshore Malaysia
Petronas, via Malaysia Petroleum Management, has confirmed two new agreements for exploration and development offshore Sabah, Malaysia, according to a July 4 company press release.
At the Sabah Oil, Gas & Energy Conference & Exhibition (SOGCE) 2025, Petronas, ConocoPhillips Malaysia New Ventures and Pertamina Hulu Energi signed a technical evaluation agreement for the frontier Layang-Layang Basin, covering a 44,500-sq-km offshore area.
The agreement should lead to subsurface studies, including regional geological assessments and detailed prospectivity analysis.
In addition, Petronas formalized a memorandum of understanding with DIALOG Resources to advance development of the Mutiara Cluster offshore Sabah’s east coast.
DIALOG was awarded the Mutiara Cluster Small Field Asset production sharing contract last month under the Malaysia Bid Round 2025. Terms should allow for development of the discovered resources with DIALOG committed to repurposing existing materials and equipment, and using prior insights to accelerate first gas.
Petronas is investing in various seismic data acquisition programs, including around Sabah’s East Coast area, to help speed up exploration activities.