Dateline 2020-11-20, Energy Voice:
The eastern Malaysian state of Sarawak, home to the country’s LNG export complex, will soon open onshore acreage for bidding, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.
Since the 1970s, significant oil and gas reserves have been discovered offshore Sarawak, which have helped supply one of the world’s largest LNG plants in Bintulu.
Although there has been significant exploration onshore since the 1980s, results have been modest. Still, Sarawak remains hopeful that new investment will help prove fresh commercial reserves by applying new technologies.
Moreover, Sarawak, after winning a recent battle against the federal government and Petronas for greater control of its natural resources, will now start offering onshore acreage through open auction, as well as direct negotiation. Two onshore blocks, covering the Miri and Limbang, as well as Lawas areas – SK 433 and SK 334 – will be open for bidding in the coming months, the state announced on 30 October 2020.