Dialog Group receives US$81 million FID from Petronas for Raja field development

Dialog Group Bhd announced that Petronas has given final investment decision approval for a US$81 million project to develop and later abandon the Raja cluster small field under a production sharing contract. The PSC, signed on 5 December 2024 between Petronas’s Malaysia Petroleum Management and Dialog Resources Sdn Bhd, spans up to 14 years, including pre-development, development and production phases. Pre-development will involve 3D seismic reprocessing, specialized studies and resource assessments.

The development will be carried out using Dialog’s Tarpon platform, designed for marginal offshore fields in water less than 100 metres deep. Funding will come from internal resources or external loans, and commercial production is targeted for the end of the two-year development stage. Dialog’s shares closed slightly lower at RM2.01, valuing the firm at RM11.35 billion.