Malaysian energy giant Petronas, through Malaysia Petroleum Management (MPM), has offered the first acreage of the year ahead of the formal launch of Malaysia Bid Round 2026 (MBR 2026) on 10 February. This follows recent annual licensing rounds and the introduction of MBR+ in October 2023, which allows continuous applications for certain assets via the Petronas myPROdata platform.

Exploration Context and Asset Details

Malaysia is experiencing an exploration renaissance, attracting major players to new offshore plays in the mature Malay basin and to wildcatting offshore Sabah and Sarawak. The newly released asset is the Zamrud Funnel discovered resource opportunities (DRO) cluster offshore Sabah, East Malaysia. This DRO comprises five fields: the Sipadan gas field, and the Tembungo, South West Emerald, Danum, and Rusa Timur oil and gas fields. These fields are located about 100 kilometres offshore Sabah in water depths of 70 to 125 metres. Petronas Carigali previously operated Tembungo, while Danum was part of Block SB 412, which was awarded to Thailand’s PTTEP in 2018.

Bidding Process and Timeline

Prospective bidders for the Zamrud Funnel DRO and other MBR 2026 acreage must have a paid subscription to the Petronas myPROdata platform. The invitation to bid (ITB) and bid guideline, detailing how to complete and submit bids, will be accessible to subscribers starting 10 February 2026. The Zamrud Funnel DRO is offered under small field asset (SFA) terms, with its data room now open. The bid submission deadline is 1 October 2026. MPM plans to award the production sharing contract in February 2027, with a formal signing targeted for April 2027.