Malaysia’s state oil company PETRONAS has awarded a production sharing contract for the Estuary Cluster and handed over enhanced 3D seismic data for the Mutiara Cluster as it seeks to accelerate development of marginal oil and gas resources.
Malaysia Petroleum Management (MPM), PETRONAS’ upstream business unit, awarded the Small Field Asset Production Sharing Contract (SFA PSC) for the Estuary Cluster to Harvester Energy (Malaysia) Sdn Bhd, a wholly owned subsidiary of Australia’s Harvester Energy Pty Ltd.
The Estuary Cluster comprises the Lerek, Korbu and Diwangsa fields in the Malay Basin, offshore Peninsular Malaysia.
The cluster will use a shallow-water subsea development concept aimed at reducing capital expenditure and accelerating production, PETRONAS said in a statement.
“The award of the Estuary Cluster PSC reflects PETRONAS’ continued focus on unlocking Malaysia’s discovered resources through innovative and fit-for-purpose development solutions,” said Bacho Pilong, senior vice president of MPM.
The award marks Harvester’s entry into Malaysia’s upstream sector, PETRONAS said.
The cluster was offered through Malaysia Bid Round Plus (MBR+), which provides year-round access to selected upstream opportunities, alongside the annual Malaysia Bid Round.
Separately, MPM has handed over an enhanced 3D seismic dataset to DIALOG Resources Sdn Bhd for the Mutiara Cluster, located off the east coast of Sabah in the Sandakan Basin.
The data is expected to help DIALOG assess the cluster’s resources and support development planning, PETRONAS said.
The Mutiara Cluster comprises five discovered marginal oil and gas fields: Nymphe, Nymphe North, Kuda Terbang, Benrinnes and Mutiara Hitam.
DIALOG was awarded an SFA PSC for the cluster during Malaysia Bid Round 2025, with first production targeted for 2029, PETRONAS said.
The company said efforts were also under way to optimise project costs and accelerate first gas, with DIALOG working with Sabah state agencies on development plans.
“The delivery of this enhanced dataset marks an important milestone for the Sandakan Basin,” Pilong said, adding that the improved seismic imaging would help DIALOG evaluate the cluster’s resources.
PETRONAS said the two initiatives were part of its efforts to widen investment opportunities and accelerate the development of discovered oil and gas resources in Malaysia.
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