From the Business Times – Petronas discoveries come at right time


Dateline 2011-02-21:

The oil and gas finds are timely when Malaysia’s oil and gas reserves and production capacity are seen dwindling.

IT HAS been quite a while since we last heard Petroliam Nasional Bhd (PETRONAS) and its production sharing contractors announcing new major discoveries of oil and gas in Malaysian waters.

Last week’s announcement of oil and gas discoveries offshore Sarawak could not have come at a better time when Malaysia’s oil and gas reserves and production capacity are seen dwindling.

It was just last year that PETRONAS had pledged to concentrate more on domestic exploration and development rather than aggressively going to lucrative but risky international waters.

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This entry was posted on Thursday, March 3rd, 2011 at 6:00 am and is filed under engineering, investment, 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.

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