Petronas Transfers Kebabangan Cluster Operatorship to ConocoPhillips

Petronas has officially transferred the operatorship of the Kebabangan Cluster Production Sharing Contract (KBBC PSC) to ConocoPhillips Sabah Gas Ltd., effective January 21, 2025. This change means that ConocoPhillips will independently operate the oil and gas fields previously managed jointly with Petronas and Shell. The KBBC cluster has an export capacity of up to 750 million standard cubic feet of gas per day, and the agreement extends operations until 2050, enhancing energy security in Sabah, Malaysia. Sabah's Chief Minister highlighted the state's emerging status as a preferred destination for oil and gas investments due to strategic partnerships. Petronas reaffirmed its commitment to sustainable energy supply and effective management of petroleum resources in Malaysia. This transfer is seen as a significant step towards optimizing production efficiency and meeting regional energy demands.