Dialog Signs MOU with Petronas to Fast-Track Gas Production at Sabah’s Mutiara Cluster

Dialog Group Bhd has signed a memorandum of understanding (MOU) with Petronas to accelerate gas production at the Mutiara Cluster offshore Sabah. The MOU follows Dialog’s recent 14-year production sharing contract (PSC) award to operate the cluster’s five marginal fields. The agreement aims to bring forward first gas production to before Q1 2029, meeting Sabah’s rising power demand. Both parties will collaborate on cost reduction, fast-tracking production, and developing technical proposals. The non-binding MOU is valid for one year without affecting PSC terms. Dialog shares closed at RM1.64 on Thursday, valuing the group at RM9.3 billion despite an 11% year-to-date decline.

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