On January 21, Conocophillips Malaysia marked a considerable milestone assuming operators of the Kebabangan Cluster Production Contract (KBBC PSC). This historical event not only extends the duration of the PSC in 2050, but also integrates the UBB into the Heritage Operations of Conocophilips all over the world, making it the Malaysian business unit (MBU) for the first time the production of productive wealth.
Malaysia has long been known for its high quality of its raw oil and natural gas. Its strategic location positions the country as a key player in the global energy market. Mbu, located in the heart of Southeast Asia, is ideally set to manage and carefully care for demand centers throughout Asia.
For two decades, MBU has operated as an asset operated by the partner. While this remains essential to its business, taking over the KBBC operator diversifying its portfolio and strengthens its trail in the region.
As an asset of the main investment for Conocophillips Malaysia, KBBC is strategic in the long -term vision of the company. The business unit aims to explore and unlock limited resources in the SABAH while identifying further trading opportunities. With the continuation of the PSC and the new upstream gas sale agreement to support the gas supply, the KBBC is essential for strengthening the needs of SABAH energy.
“Our goal is to create a inheritance business that is sustainable, resilient and reliable, despite the often unstable nature of global energy markets,” said the President of Conocophillips Malaysia Lisa Bruner. “We aim to contribute to the state’s vision to ensure its energy needs and serve customers in the wider market.”
The 20-year-old journey is a testimony to the rigid partnerships built on faith and strong cooperation with the main stakeholders, including Petronas, through the Malaysia of Petroleum Management (MPM) that have been the foundation of its success. An important milestone was reached in 2014 when, as part of the joint venture, it reached the beginning of gas production in the KBBC, marking the first major partnership success.
Our goal is to create a heritage business that is sustainable, resilient and reliable.
To maximize its opportunities to unlock resources, Conocophillips Malaysia signed the discovered resources opportunities Ubah Clusters PSC under the Malaysian round 2024 with Petronas and existing PSC KBBC partners. This model of collaboration is what Conocophillips Malaysia is looking forward to expanding as the KBBC operator. The agreement offers the opportunity to assess the potential of resources of the five areas discovered as development links in the existing KBBC facility. These additional resources in the upper flow will provide more opportunities to keep the center of the KBBC complete, supporting a future liquefied natural gas plant and meeting the growing internal demand.
“It is a demonstration of our commitment to increase our presence in the country using our role as KBBC operator to support Petronas and Sabah state gas strategy aspirations,” said WL4-00 Ian Lim manager.
Conocophillips Malaysia’s steadfast commitment to exploration activities is evident in his latest acquisition of seismic data on KBBC property. This new data will enable the business unit to assess the potential of field exploration. Throughout 2025, the under -surface team will advance the characterization of the Sabah basin to appreciate its resource potential, with the aim of discovering new resources in the upper flow to support its ambition for building a heritage business in Malaysia.
“It all starts with the best rocks,” said research manager and partner operated with partner Vinit Rajani. “New data and under -surface characterization will lay the foundations to search for the best rocks in the Sabah.”
The integration of the KBBC of Conocophillips Malaysia into its organization marks the initial step in the significant growth it envisions in Malaysia. This strategic action lays the groundwork for future expansion and underlines the company’s commitment to strengthening its presence in the region.
“We are designing a new road that will lead to growing as we move on to build a heritage position,” Brner said. “We are very excited to see how our business unit and people will transform to meet new challenges as an operator in the country.”
UBB asset manager Ian Ramshaw emphasized the importance of cooperation for success.
“Achieving success will require constant strong partnerships with our main support functions,” he said, “including global technical functions and the use of our staff strength in combined labor.”
KBB Transition Manager Chris Isenberger said the business unit has welcomed about 300 new staff to the organization. “These talented young members of our team bring with them a strong reputation,” he said. “They share our values about a commitment to security, people, purpose, responsible operations and communities.”
Bruner praised the Malaysian work environment, emphasizing the comprehensive atmosphere in Conocophillips that unites people of different backgrounds and promotes the heart cooperation of its operations.
“Observation of our organization in Malaysia to flourish is something I am extremely proud of,” Bruner said. “Our long -term vision for Malaysia is to build a wealth of inheritance. Building and maintaining our business and community relationships will be essential, such as understanding of market and local culture. We will continue to set priority in our stakeholders, realizing that relationships and trust are the foundations of successful partnerships.