f Pcsb Exploration Journey: Key Accomplishment to Date and Future Aspirations

Petronas Carigali Sdn. Bhd., or more affectionally known as PCSB was incorporated on 11 May 1978. Little did anyone realised during that time, the small humble company with little experience and much less capabilities, would eventually grow to become a global player to be reckoned with. PCSB, being a wholly-owned subsidiary and operating arm of Petronas, was initially formed to increase Malaysian participation in the Exploration & Production (E&P) playing field by being involved in all aspects of oil and gas exploration, development and production. The PCSB exploration journey could be categorised into 4 main stages throughout its exceptional history. Despite starting from scratch, PCSB exploration division had strong aspirations and ambition. Within the first 10 years from 1978 to 1988, the foundation was laid to learn the ropes, gain experience, and acquire capabilities. Shell, BP and ESSO were PCSB’s main mentors during this period. The year 1989 marked the turning point for its challenging journey<br>when PCSB decided to leave its domestic comfort zone and took up the challenge to venture internationally, first as a partner then as an operator. The road to globalization began with its maiden E & P venture into Myanmar in 1990. One year later another milestone was achieved with the first overseas operatorship in Vietnam. That brave, albeit risky, decision to move beyond home was a stepping stone towards being a global champion. Having gained the confidence of host governments, NOCs, and other oil companies with PCSB’s exploration capabilities; and having established itself as a reliable operator and partner, the third stage of the exploration journey moved on to meet performance challenges. This 5-year period from 1995 transformed PCSB exploration to enhance operational excellence, be better partners, and trusted by host governments. Following that, PCSB’s exploration journey continued to build robust business, competitive advantage and pursue value and growth. Since its incorporation 28 years ago, to date PCSB exploration activities can be found in 23 countries with 69 blocks and operatorship in 34 exploration blocks. PCSB’s exploration journey will never end. It will respond and adapt to the everchanging E&P landscape and will continue to seek new playgrounds and achieve greater heights. Today’s PCSB will build and grow an even better legacy for future generation.