Cyberjaya, 6 October 2025 – Dagang NeXchange Berhad (“DNeX”) has achieved key progress across its energy business, marking further inroads in both the downstream and upstream oil and gas sectors. These developments underscore DNeX’s strategic focus on expanding its presence and driving revenue growth within Malaysia’s dynamic energy landscape.
DNeX, through subsidiary OGPC Sdn Bhd (“OGPC”), has been awarded a Proof of Concept (“POC”) contract by PETRONAS Dagangan Berhad (“PDB”) for comprehensive Station Equipment Full-Service Maintenance. This POC contract commenced on 1 July 2025 and will conclude on 1 July 2026 where OGPC will be responsible for 50 of PETRONAS stations in the Klang Valley region. PDB has over 1,000 stations across Malaysia and there are about 3,500 stations of all brands throughout the country.
The full suite of services to be offered by OGPC which will also leverage on DNeX IT’s solutions and artificial intelligence services as part of this POC contract are:
- Station Equipment Full-Service Maintenance
- Station Parts Replacement
- Asset / Inventory Management Database
- Provision of Project Management Team
- Repair and Upgrading Modification Work
- Consolidated Performance Reporting
- Equipment Dressing
- Management of Health, Safety and Environment (“HSE”) and Localised HSE Requirement; and
- Command Centre Services and Contact Centre Support.
“Our contract with PDB perfectly aligns with DNeX’s strategic goal to boost revenue by expanding our footprint in the retail downstream oil and gas sector. At the same time this opportunity enables DNeX Energy to leverage on DNeX Group’s capability and expertise to offer a suite of services through POC model before embarking on a full fledge opportunity upon the conclusion of the POC,” said Faizal Sham Abu Mansor, Group Chief Executive Officer (“CEO”) of DNeX.
Further solidifying its position in the upstream sector, DNeX through subsidiary Ping Petroleum Sdn Bhd (“PPSB”), has received approval from PETRONAS Malaysia Petroleum Management (“MPM”) for its Field Development and Abandonment Plan (“FDAP”) for the BETA cluster and undeveloped fields within the Abu cluster.
This key approval greenlights the development of five fields, collectively referred to as the Greater Abu Development Area, significantly expanding Ping’s production capabilities in Malaysia. The approved FDAP covers the Bubu, Enau, and Bunga Tasbih fields within the BETA cluster, as well as the Abu Kecil and Abu South-West fields within the Abu cluster. All these fields are strategically located between four to seven kilometres from the existing Abu Central Processing Platform (“Abu CPP”).
Hence, this expanded development can leverage shared infrastructure hence creating substantial operational expenditure (“OPEX”) synergies, making the combined project significantly more profitable and valuable than the Abu field on its own.
The Greater Abu Development falls under Malaysia’s Late-Life Asset (“LLA”) and Small Field Asset (“SFA”) Production Sharing Contracts (“PSCs”), introduced by PETRONAS to encourage operators to develop and maintain production from brownfields and untapped marginal fields.
In addition to the FDAP approval, Ping also recently secured a crude oil offtake arrangement for its crude from both Anasuria and Abu with PETRONAS Trading Corporation (“PETCO”).
“This arrangement and the FDAP approval for BETA cluster highlight the trust and belief that PETRONAS has with Ping on its capacity and capability to execute the development of the Greater Abu Development area and ensure sustainable delivery of crude to PETCO. The Greater Abu Development will follow the successful playbook we implemented with the Anasuria Cluster in the UK North Sea, where we acquired a brownfield asset, improved its efficiency, and then brought in additional volumes through infill wells and tiebacks of nearby resources through effective resource allocation by leveraging on existing infrastructure that are available.
Our development plan and the offtake arrangement entered with PETCO will also ensure sustainable cashflow coming into Ping, once the first oil is produced in the Abu field.” said Faizal Sham Abu Mansor.
Ping operates through two arms namely PPSB for its Malaysian operations and Ping Petroleum UK PLC (“PPUK”) for its UK operations.
The immediate focus will be on the reactivation of the Abu Cluster, where field work is progressing toward a targeted first oil in 2026 with an expected initial production rate of 3,000 barrels per day. The Abu and BETA developments represent the next phase in DNeX’s plan to replicate its successful low-cost operating model in the UK where the Group has operated the Anasuria Cluster profitably since 2016.