KUALA LUMPUR, Dec 12 (Bernama) — PETRONAS Carigali Sdn Bhd (PCSB) entered into a Heads of Agreement (HOA) with JX Nippon Oil & Gas Exploration Corporation (JX Nippon) on 5 December 2022 to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh (BIGST) fields, located offshore Kerteh, Terengganu.
The BIGST opportunity was offered as part of Malaysia Bid Round (MBR) 2020, where it had received several proposals from interested parties. PCSB and JX Nippon were shortlisted based on the quality of their submissions and unique value propositions.