Malaysia: First MBR 2026 offering

(Originally published on January 19, 2026)

Last week, PETRONAS announced the first DRO that will be offered in as a part of MBR 2026.

The Zamrud Funnel DRO contains five fields: Tembungo, South West Emerald, Danum, Rusa Timur and Sipadan. The fields are located about 100km offshore Sabah and sit in water depths of 70-125m. The DRO has been offered under Small Field Asset (SFA) terms, with submission required by 1st October 2026, and the award expected in February 2027.

In addition, PETRONAS also stated that the MBR 2026 launch event will take place on 10th February 2026.

In this article, I look in more detail at the potential development of the fields as well as the potential bidders.