Velesto Energy confirmed a 60-month charter for jack-up Naga 2 with Petronas Carigali, starting in February 2026. Contract value was undisclosed, with the deal expected to support utilisation and earnings visibility through 2030.
BMI says Malaysia will remain a major oil and gas investment location as PETRONAS maintains about RM50 billion in upstream capex, expands overseas assets and advances CCS and LNG-related spending.
Petronas has selected McDermott for EPCIC services on a major offshore gas development in Brunei, covering subsea production systems, tie-backs from six wells to a floating unit and a gas export pipeline to LNG facilities.
Guyana has signed a five-year production sharing agreement with TotalEnergies, QatarEnergy and Petronas for offshore Block S4, the first contract concluded after the 2023 tender that allocated eight of 14 shallow-water and deep-water blocks.
Sabah has finalized the acquisition of a 25% stake in Petronas PFLNG 3, the $3.1 billion nearshore floating LNG project known as ZLNG, strengthening the state’s role in Malaysia’s energy sector.
Eni and PETRONAS formed an equal joint venture combining upstream operations in Indonesia and Malaysia, investing over $15 billion over the next five years.
