KUALA LUMPUR: Dialog Group Bhd has made a “final investment decision” to develop the Fatimah Gas Field, its second field development under the Baram Junior Cluster Small Field Asset Production Sharing Contract (BJC SFA PSC), with an additional investment of US$211 million.
The oil and natural gas company also announced that the group achieved its first commercial production from the Salbiah Gas Field on Oct 27.
It said both fields are part of the BJC SFA PSC signed between Petroliam Nasional Bhd (Petronas), Dialog Resources Sdn Bhd and Petroleum Sarawak Exploration and Production Sdn Bhd on Jan 17, 2023.
“Following the approval of the Field Development and Abandonment Plan (FDAP) on Jan 8, 2026, development activities for the Salbiah Gas Field were successfully completed. Building on this achievement, and appraisal well results confirming the commercial viability, the Fatimah Gas Field will now be developed in accordance with the approved development plan and the terms of the BJC SFA PSC,” it said in a stock exchange filing.
Dialog said its participation in the BJC SFA PSC is for a duration of up to 14 years, in line with the group’s strategy to continue to expand and diversify across the upstream, midstream and downstream businesses of the energy sector.
This would create greater opportunities to unlock synergies across the group, enhance value creation and strengthen its overall resilience.
“Dialog will remain focused and steadfast in the pursuit of diversification across the energy sector to strategically position the group to weather different economic and oil price cycles, which is in line with the company’s strategy of generating long term recurring income,” it added.