Our Portfolio
Matahio has a growing presence in Southeast Asia and Australasia. Our multi-disciplined team operates from five operating centres: Malaysia, Singapore, New Zealand, the Philippines, and Thailand.
New Zealand
In 2026, Matahio entered into a Share Purchase Agreement to sell Matahio Energy New Zealand Ltd (MENZL) to Sunda Energy. Matahio is committed to ensuring continuity, capability, and care for the assets during this transition.
Matahio wholly owns and operates three production permits in Taranaki, North Island, New Zealand, as well as the Puka (PEP 51153) exploration permit.
The Cheal operations are connected to and managed from the Cheal Production Facility, which supports the remotely operated Sidewinder site. Cheal has been in production since 1995, with Sidewinder coming online in 2011.
Cheal (PMP 38156 and PMP 60291)
The Cheal Production Facilities comprise the Cheal A production station located near Ngaere, in the central Taranaki region, remotely-operated B, C and E wellsites, and associated pipelines. The facility is operated with Operations and Maintenance partner Horizon Energy Services.
Oil and gas production is currently active from wells on A, B and E sites utilising a range of artificial lift technologies. Oil is exported via road transport to the nearby Omata Tank Farm at Port Taranaki and then shipped to the international market. Gas is exported to the FirstGas domestic pipeline network. The Cheal Facility also houses power generation capacity and can export power to the domestic grid if it becomes commercially attractive to do so.
Matahio has applied its tried and tested operations excellence processes to Cheal since assuming Operatorship in late 2019, resulting in substantially improved production performance. In 2023, production climbed to levels last seen in 2015, before drilling.
In Q2 2023, Matahio restarted drilling operations in Cheal after 6 years. marking the beginning of the next phase of its re-development. The B11 infill well was successfully drilled in 2023 and B12 was drilled in Q3 2024. Both wells will add circa 425 kbbls of 2P reserves.
Sidewinder (PMP 53803)
The Sidewinder site, consisting of the full suite of oil and gas processing equipment, is a normally unmanned facility controlled directly from the main Cheal Production Facility. Oil is temporarily stored on-site before collection by road transport. Gas is treated to specification and exported directly into the FirstGas domestic pipeline network.
To build long-term energy resilience, the Sidewinder site is currently undergoing a successful gas energy storage trial in partnership with Genesis Energy. This initiative explores how existing infrastructure can be utilized for demanding gas injection and extraction programs, improving flexibility and security of supply across New Zealand's energy system during periods of peak demand.
Puka (PEP 51153)
Following a comprehensive re-assessment of the permit's potential, including seismic reprocessing and application of state-of-the-art inversion workflows, Matahio plans to drill the Oru-2 exploration well in Q2 2025. The Oru Prospect lies adjacent to the previously produced Puka field and represents an exciting development opportunity to enhance production in New Zealand.
Philippines
In the Philippines, Matahio operates both late-life offshore oil production and pioneering clean energy exploration. Through its wholly owned local entity, NPG, Matahio holds an 80% operating interest in the Galoc Field offshore Palawan Island, recently securing a first-of-its-kind Development & Production Petroleum Service Contract (SC# 88) alongside joint venture partners Philodrill and Forum to continue production. Matahio has also partnered with Ophiolite Energy under Service Contract 90 (SC 90) to explore frontier natural hydrogen reserves in onshore Leyte.
Galoc (SC# 88)
Galoc has been in production since 2008 and has produced over 25 million barrels of oil. The field produces 1,300bopd (Gross) via four subsea wells tied back to the Matahio-owned Floating Production, Storage and Offloading (FPSO) vessel “Intrepid Balanghai”.
Extending the field beyond its initial 50-year limit is a testament to Matahio’s cost-restructuring and life-of-field management. Since taking over as Operator, the Matahio team has halved the asset’s operating costs, ensuring no reserves are left stranded. The FPSO and subsea facilities are managed by THREE60 Energy under a Life-of-Field Operations and Maintenance contract, supported by NPG's operations team in Manila and technical experts in Singapore and Kuala Lumpur.
Onshore Leyte: Natural Hydrogen Exploration (SC 90)
In early 2026, Matahio expanded its regional footprint into clean energy solutions through a strategic partnership with Ophiolite Energy. The joint venture was awarded Service Contract 90 (SC 90) by the Philippine Department of Energy to explore the natural, carbon-free hydrogen potential within Leyte's rare ophiolite rock formations.
Thailand
In August 2025, Matahio, in partnership with Horizon Oil Limited, completed the acquisition of ExxonMobil's 100% interest in ExxonMobil Exploration and Production Khorat Inc. (EMEPKI), which includes the producing Sinphuhorm and Nam Phong gas fields. Effective 31 October 2025, the company name has been changed to “MH Energy Thailand LLC" or MHET in short.
This acquisition establishes Matahio's first asset in Thailand and marks our expansion into a third geography, joining New Zealand and the Philippines. The strategic move significantly strengthens our presence in Southeast Asia and aligns with our commitment to growing our upstream business in the region.
As part of the acquisition, Matahio has assumed operatorship of the Nam Phong gas field and will manage the MHET teams.
This expansion builds on Matahio's track record of operational excellence and progressive energy solutions. Our entry into Thailand is an important step in our long-term growth strategy, reinforcing our role as a leading upstream player in Southeast Asia.
FPSO Intrepid Balanghai
Matahio Energy is the 100% owner of the FPSO Intrepid Balanghai, a Panama-flagged vessel with IMO 8009569 and classified by the American Bureau of Shipping (ABS).
Key technical specifications include:
- Overall Length: 234m
- Dead weight: 65,320 MT
- Production Capacity:
- Total liquids: 25,000 bpd
- Produced water: 15,000 bpd
- Gas Handling: 40 MMscf/d
- Crude Storage: 432,823 bbl
The vessel is currently located at the SC# 88 Galoc Field, offshore Palawan in the Republic of the Philippines. The vessel is operated in partnership with THREE60 Energy as an Operations and Maintenance contractor. Matahio is actively seeking future redeployment opportunities for the FPSO, with a particular focus on opportunities in the Philippines.