Head (Upstream Business Development)

About PETROS

At PETROS, we aim to achieve sustainable development for Sarawak and the nation through responsible resource management. We embarked on this journey with a purpose: Harnessing Resources for the Sustainable Progress of Sarawak and Beyond. Through innovation, collaboration and a forward-thinking approach, PETROS aims to pioneer solutions that pave the way for a more sustainable and equitable energy future. 

Position Overview 

The Head of Upstream Business Development is accountable for defining and executing PETROS’ upstream growth strategy, ensuring the acquisition and maturation of upstream oil and gas interests in support of Sarawak Gas Roadmap and ensuring energy security for Sarawak. The role will lead all upstream business development activities, including opportunity origination, commercial and economic evaluation, deal structuring, negotiation, and transaction execution, while balancing commercial competitiveness with PETROS’ mandate and governance requirements. The role is also responsible for identifying, evaluating, and developing new upstream oil and gas business opportunities. This role supports portfolio growth through acreage acquisition, farm‑ins/farm‑outs, M&A activities, and strategic partnerships while ensuring alignment with corporate strategy, risk appetite, and value creation objectives.This role also needs to balance commercial competitiveness with PETROS and Sarawak interests, working closely with PETRONAS, Sarawak State Government stakeholders, international partners and investors.

Key Responsibilities

• Responsible for defining and executing the company’s upstream growth strategy across exploration, development/producing, and acquisition opportunities. Maintain opportunity pipeline and business development roadmap.
• Leads the full business‑development lifecycle - from opportunity screening and commercial structuring to negotiations, approvals, and deal closure - while aligning with corporate strategy, shareholder objectives, and national energy priorities.Monitor regional and global upstream market trends, licensing rounds, competitor activity, and regulatory developments. 
• Lead commercial negotiations with governments, NOCs, IOCs, joint‑venture partners, and regulators.
• Structure deals including PSCs, joint operating agreements, farm-ins/farm-outs, M&A transactions, carried interests, cost recovery terms, profit splits.
• Oversee technical, commercial, fiscal, legal, and economic evaluations (NPV, IRR, sensitivities) of upstream opportunities including resource and reserves, PSC / concession terms, fiscal take and government obligations, low‑carbon and emissions considerations.
• Work with legal and commercial teams on term sheets, data room reviews, and transaction closing., maintaining clear investment criteria and decision gates.
• Act as a senior interface with host governments and regulators, national oil companies, strategic partners and investors.

Qualifications & Experience 

• Degree in Engineering, Geoscience, Finance, Commercial or related discipline relevant for Upstream operations.
• MBA or Postgraduate Degree is an advantage.
• More than 20 years of experience in upstream oil and gas, with minimum 10 years in upstream business development, commercial, or M&A roles.
• Proven track record of closing upstream transactions, with strong experience with PSC‑based fiscal systems (Malaysia/ASEAN preferred).
• Strong commercial, negotiation, and stakeholder‑management skills, with deep understanding of Upstream economics and fiscal regimes.
• Exploration and development decision‑making, as well as a strategic thinker with execution discipline.
• Possess a strong leadership presence with credibility across technical and corporate teams.

What We Offer: 

• A dynamic and inclusive work environment that fosters growth and innovation.
• Competitive compensation and benefits package.
• Opportunities for professional development and career advancement within a global organization.
• The chance to be part of transformative projects that impact Sarawak and beyond. 

Application Deadline: 30 April 2026