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Baltic Alliance Expands Malaysia Portfolio, Strengthening Strategic Partnership with PETRONAS

Baltic Alliance Expands Malaysia Portfolio, Strengthening Strategic Partnership with PETRONAS
Press Release Press Release
06 February 2025

Baltic Alliance Expands Malaysia Portfolio, Strengthening Strategic Partnership with PETRONAS

Baltic Alliance today announced the expansion of its upstream portfolio in South-East Asia, further strengthening its strategic partnership with PETRONAS through participation in multiple offshore blocks in Malaysia and one offshore block in Indonesia.

Building on its long-standing collaboration with PETRONAS, the portfolio expansion reinforces Malaysia as a key anchor market for Baltic Alliance in the region. The announcement was made on the occasion of Energy Asia 2025 in Kuala Lumpur, underscoring the Company’s commitment to growth in Asia-Pacific and to deepening partnerships with leading national oil companies

Under the transaction, Baltic Alliance has acquired interests from PETRONAS in several offshore licenses at varying stages of maturity, including exploration, appraisal, and development. Collectively, the licenses cover an area exceeding 100,000 square kilometers, offering significant resource potential and a balanced mix of near- and longer-term opportunities.

These acquisitions mark an important step in expanding our footprint in South-East Asia and further solidifying our strategic partnership with PETRONAS,” said Mr Eduard Ginzburg, the General Director of Baltic Alliance. “Malaysia represents a cornerstone of our regional strategy, providing scale, technical excellence, and a stable investment environment. Together with PETRONAS, we will advance these assets through disciplined exploration and development programs aligned with efficiency and sustainability objectives.

The offshore Indonesia block complements Baltic Alliance’s regional portfolio, enhancing cross-border synergies and reinforcing its focus on high-quality assets within established petroleum systems.

Baltic Alliance and PETRONAS will jointly progress exploration, appraisal, and development activities in accordance with regulatory requirements, international best practices, and environmental standards, while supporting local content development and energy security in the host countries.