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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hmmm….nnyyuummmmi…