Recent offshore developments across Southeast Asia include a new strategic alliance between PETRONAS and PetroVietnam, major offshore project awards in Malaysia, and an expansion of offshore gas exploration acreage in the Malay Basin.
PETRONAS and PetroVietnam sign strategic alliance agreement
PETRONAS and Petrovietnam have further reinforced their 35-year old partnership by signing a strategic alliance agreement.
This establishes a forward framework to jointly pursue opportunities across the energy value chain, covering upstream development, gas and LNG, downstream and low carbon solutions.
PETRONAS made its first investment in Vietnam’s oil and gas sector in 1991.
Vantris secures $441 million in Malaysia offshore contracts
Vantris Energy’s Engineering & Construction division, VTEB Offshore, has won work for offshore transportation and installation (T&I) projects in Malaysia from two operators.
One of the programs, for PETRONAS Carigali, covers T&I of offshore facilities and is due to be completed by fourth-quarter 2027.
The other, for PTTEP, concerns various development projects and is set to be completed within the same timeframe.
The combined value is about RM1.8 billion (US$440.8 million).
Malaysia gas acreage expansion boosts Temaris exploration potential
Seascape Energy has received approval from PETRONAS to expand its Temaris Cluster PSC offshore Peninsular Malaysia by about 547 sq km, increasing the license area to about 1,770 sq km. The company said the acreage expansion increases the permit area by 45%.
According to Seascape, the newly added acreage extends the Temaris Miocene sandstone play and could significantly increase exploration potential beyond the nearly 1 Tcf of prospective resources previously identified across the block. An updated independent resource assessment is expected later this year.
PETRONAS also plans to acquire new 3D seismic data across the expanded acreage, while Seascape has restarted efforts to bring in a strategic partner as it advances development planning for the asset.
