Matahio Energy

What Matahio Energy does

Matahio Energy is an independent upstream oil and gas company founded in 2022 and headquartered in Kuala Lumpur, Malaysia, specializing in the acquisition, operatorship, and late-life management of producing upstream assets across Southeast Asia. Following the April 2026 divestment of its New Zealand business to Sunda Energy, the company's operating footprint is concentrated in the Philippines (Galoc offshore field operated by wholly-owned NPG Pty Ltd under Service Contract 88 with 80% participating interest) and Thailand (25% interest in MH Energy Thailand LLC, with operatorship of the Nam Phong conventional gas field alongside Horizon Oil). Core capabilities include cost restructuring of mature fields (achieved 50% reduction in lifting costs at Galoc and portfolio OPEX below USD 40/bbl), production enhancement through proprietary technologies such as Concentric Jet Pumps and micro ROV underwater inspection systems, and decarbonization programs targeting Net Zero by 2030.

The company's revenue is generated through commodity sales of produced crude oil (Galoc, offloaded from the owned FPSO Intrepid Balanghai) and natural gas (Nam Phong and Sinphuhorm in Thailand), supplemented by FPSO charter and infrastructure services within joint venture arrangements. Distribution is entirely B2B via direct sales to refineries, trading houses, and domestic off-takers (including EGAT in Thailand), operating through petroleum service contracts and production sharing agreements with government counterparties such as the Philippines Department of Energy. Key strategic partnerships include THREE60 Energy (life-of-field operations and TITAN production management software), Kadita Partners (working capital and growth debt), Horizon Oil (Thailand JV partner), and Ophiolite Energy (SC90 natural hydrogen exploration partner).

Name

Matahio Energy

Legal name

Matahio Energy

Website

https://matahio.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Matahio Energy is an independent upstream oil and gas company founded in 2022 and headquartered in Malaysia, specializing in late-life asset acquisition and operatorship across Southeast Asia, with current producing operations in the Philippines (Galoc field) and Thailand (Nam Phong and Sinphuhorm gas fields) following the 2026 divestment of its New Zealand business.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro industry

PRIMARYEUAMAGAJ

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence)

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Renewable Operations, Maintenance & Asset Management

SECONDARYEUAEAMAG

Oil & Gas Facilities Asset Management (Refining/Terminals/LNG)

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Energy Infrastructure Asset Management

Keywords

• Upstream oil gas
• Late-life asset management
• FPSO operations
• Offshore production
• Energy decarbonization

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Oil and Gas Production Sales: Matahio generates revenue through the sale of produced oil and gas from its operated and non-operated assets across New Zealand, Philippines, and Thailand. Production includes crude oil from Galoc field and Cheal fields, and natural gas from Nam Phong and Sinphuhorm fields.
2. FPSO Charter and Infrastructure: The company owns and charters the FPSO Intrepid Balanghai to joint venture partnerships. The FPSO provides floating production, storage and offloading services for offshore oil fields, generating revenue through charter rates and operational fees.
3. Service Contract Operations: Under service contracts (SC88 for Galoc, SC90 for natural hydrogen exploration), Matahio operates fields and receives compensation for managing production operations on behalf of joint venture partners and government entities.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Matahio Energy is an independent upstream oil and gas company that acquires, operates, and optimizes late-life producing assets across Southeast Asia and Australasia. The company produces crude oil and natural gas from offshore and onshore fields, manages FPSO infrastructure, and delivers production enhancement, cost reduction, and decarbonization services to joint venture partners, governments, and energy markets.

Product overview

Matahio Energy is an independent upstream energy company operating a diversified portfolio of oil and gas assets across New Zealand, the Philippines, and Thailand. The company operates as a unified platform built around progressive energy principles, combining core production operations (onshore and offshore fields) with specialized late-life asset management capabilities, decarbonization services, and digital production management tools. Key assets include the Cheal/Sidewinder fields in New Zealand (divested 2026), the Galoc offshore field in the Philippines under SC88 with associated FPSO Intrepid Balanghai, and the Nam Phong/Sinphuhorm gas fields in Thailand. The portfolio is supported by proprietary TITAN production management software developed with THREE60 Energy, and the company pursues Net Zero 2030 targets through operational decarbonization initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Progressive Energy Portfolio Diversified upstream energy portfolio across New Zealand, Philippines, and Thailand focused on oil and gas production, development, and exploration with an emphasis on late-life asset management and decarbonization.
• Galoc Field Operations (Philippines) Offshore oil field located 60km from Palawan Island, Philippines, operated by NPG Pty Ltd with 80% participating interest under Service Contract 88. Crude oil production sold to refineries and trading houses from FPSO shuttle tanker offload.
• Thailand Gas Operations (Nam Phong & Sinphuhorm) Conventional onshore gas fields in Thailand acquired from ExxonMobil. Matahio holds 25% of MH Energy Thailand LLC (MHET) with operatorship of Nam Phong field (80% interest) and 10% non-operated interest in Sinphuhorm field. Natural gas and condensate sold to domestic off-takers including EGAT.
• FPSO Intrepid Balanghai Charter Services Floating Production, Storage and Offloading vessel with 480 kbbls storage capacity, stationed at Galoc Field. Owned by Matahio Energy and chartered to the Galoc Joint Venture, providing floating production, storage, and offloading services with CLASS certification until May 2026.
• Late-Life Asset Management Services Specialized capability in managing mature oil and gas fields through innovative cost restructuring, infrastructure optimization, and production enhancement to extend field life and reduce lifting costs. Demonstrated 25% operating pressure reduction at Galoc and 15% production increase at Cheal through workover campaigns.
• Net Zero Decarbonization Program Emissions reduction programs including optimized dew point chilling, vapor recovery units, electric compression transition, and grid electricity sourcing. Targets 58% sustainable emissions reduction through operational upgrades with 13 kgCO2e/Boe emissions intensity at Cheal, well below industry norms.
• TITAN Production Management Software Cloud-based production management tool developed jointly with THREE60 Energy providing complete well history database, full production data including oil, gas, water, pressure, temperature and chemical treatments, loss module to track under-performance, and reporting tools at Group, Asset, Field and well level.

Quantifiable outcome

• 50% reduction in lifting costs at Galoc field through FPSO acquisition and partnership restructuring
• +9 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Sunda EnergycoreStrategic or Co-development Partner · 9 April 2026Sunda Energy, London Stock Exchange-listed AIM company, acquired 100% of Matahio Energy New Zealand Ltd (MENZL) including producing onshore oil and gas fields in Taranaki (Cheal, Cheal East, and Sidewinder) and Puka exploration permit. Matahio retains focus on Southeast Asia operations.
• Ophiolite EnergycoreStrategic or Co-development Partner · 1 January 2026Matahio Energy Philippines partnered with Ophiolite Energy and was awarded Service Contract 90 (SC 90) for natural hydrogen exploration in onshore Leyte. This represents Matahio's entry into lower-carbon energy, supporting Philippines' energy transition.
• Horizon Oil LimitedcoreStrategic or Co-development Partner · 24 March 2025Matahio partnered with Horizon Oil to acquire ExxonMobil's 100% interest in EMEPK (renamed MH Energy Thailand LLC). Matahio holds 25% and operatorship of Nam Phong field; Horizon holds 75%. Deal included 10% working interest in Sinphuhorm and 80% in Nam Phong.
• THREE60 EnergycoreImplementation/ SI/ Consulting Partner · 1 February 2023THREE60 Operations Services provides life-of-field Operations and Maintenance services for FPSO Intrepid Balanghai at Galoc field. Innovative commercial model allows collaborative cost reduction and field-life extension. Co-developed TITAN production management software.
• Energy Resources Aotearoa (ERA)coreStrategic or Co-development PartnerMatahio is a founding member of the Energy Resources Sector Net Zero Accord, signed in 2022. Matahio's COO participates in ERA committees on Carbon Capture & Storage regulatory framework. Joint work on energy transition position paper 'Fuelling the Energy Transition'.
• National Institute of Water & Atmospheric Research (NIWA)minorStrategic or Co-development PartnerPartnership with NIWA to explore novel approaches for carbon capture, utilisation and storage as part of Matahio's decarbonisation initiatives in New Zealand.
• Genesis EnergyminorStrategic or Co-development PartnerPartnership with Genesis Energy on Sidewinder gas storage trial. Genesis provides gas supply to support injection and extraction programme, demonstrating potential for existing infrastructure to improve New Zealand's energy system flexibility.
• Imperial College LondonminorStrategic or Co-development PartnerStrategic partnership with Department of Chemical Engineering at Imperial College London. Jointly delivered the 50th Annual Newitt Lecture. Partnership focused on talent development, shared learning, and collaborative innovation for future energy professionals.
• TONIBUNGminorStrategic or Co-development PartnerPartnership with TONIBUNG (Friends of Village Development), an indigenous-led non-profit, to install solar energy systems in underserved communities. Identified the Diciembre community in Sabah, Malaysia for micro-hydro-solar hybrid system providing 20kW power and 40kWh battery storage.
• PTT Exploration and Production Public Company Limited (PTTEP)coreStrategic or Co-development PartnerJoint venture partner in Thailand operations alongside Matahio and Horizon Oil. Matahio works closely with PTTEP and the Department of Minerals (DMF) to ensure long-term value creation in Thailand.
• Philippines Department of EnergycoreStrategic or Co-development PartnerNPG Pty Ltd operates under service contracts awarded by the DoE. Awarded the first Development & Production Petroleum Service Contract (SC88) for Galoc field, ensuring no reserves are stranded after 50-year SC14 expiry.
• Paul RangiwahiaminorOthersMental health expert and wellbeing coach engaged to lead employee wellbeing workshops and initiatives. Created artwork depicting guiding principles, launched 'Well I AM' program with weekly challenges and daily wellness prompts.
• NZEC (New Zealand Energy Corporation)minorStrategic or Co-development PartnerPartnership with NZEC to support New Zealand's energy security initiatives, as featured in Matahio's case studies on Tariki partnerships.

Scale indicators24 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Jadestone Energy plc: London-listed independent upstream operator with producing assets in SE Asia (Australia, Malaysia, Vietnam); comparable in scale, regional focus, and operatorship of mature/transitioning fields.
• Sunda Energy plc: AIM-listed small-cap E&P focused on SE Asia; in April 2026 acquired Matahio's New Zealand business (MENZL), making it the most direct functional comparable for late-life Taranaki Basin assets.
• East West Petroleum Corp. TSX-V-listed junior E&P that divested interests in the Cheal East permit (NZ) and similar SE Asia assets to Matahio; closely aligned business model in New Zealand upstream.
• Horizon Oil Limited: ASX-listed independent upstream operator focused on Southeast Asia (notably Thailand); Matahio's 75% JV partner in MH Energy Thailand LLC and the most directly comparable SE Asia E&P business model.
• Cooper Energy Limited: ASX-listed small-to-mid cap E&P with mature field operatorship (BassGas, Sole) and late-life optimization focus in Australia/Asia-Pacific, structurally analogous to Matahio's late-life operatorship playbook.
• Carnarvon Energy Limited: ASX-listed E&P with Asia-Pacific exploration/development focus and emphasis on smaller operatorship-led projects, comparable to Matahio's SE Asia operating style.

Emerging players

• Ophiolite Energy: Early-stage Australian/Philippines-focused natural hydrogen exploration partner that secured SC 90 with Matahio in Leyte — overlapping emerging-energy diversification theme.

Others

• THREE60 Energy: Asia Pacific-focused energy services/operations partner and co-developer of TITAN; not a competitor but a tightly coupled counterpart providing O&M at Galoc's FPSO and shared IP.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/matahioenergy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Matahio Energy