From the WSJ – Exxon, Shell to Invest $5 Billion in Malaysia


Dateline 2011-01-11:

Energy companies Exxon Mobil Corp. and Royal Dutch Shell PLC plan to invest a total of about $5 billion in Malaysia, the government said Tuesday.

The agreements come as Malaysia seeks to attract $444 billion in investments by 2020.

The largest deal disclosed Tuesday involves units of Exxon and Malaysian company Petroliam Nasional Bhd., or Petronas. ExxonMobil Exploration & Production Malaysia Inc. and Petronas Carigali intend to invest more than 10 billion ringgit, or about $3.25 billion, in new oil and natural-gas assets in the South Asian nation, the Malaysian government said in a written statement.

Shell’s local arm, Shell Malaysia, plans to invest 5.1 billion ringgit to upgrade, expand or build facilities in the country.

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Malaysia, which produced 657,700 barrels of oil and condensates per day as of Jan. 1, 2010, is expected become a net oil importer by 2013.

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This entry was posted on Friday, January 21st, 2011 at 6:00 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to From the WSJ – Exxon, Shell to Invest $5 Billion in Malaysia

  1. hess says:
    January 22, 2011 at 10:57 am

    hmmm….nnyyuummmmi…

    Reply

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