Dateline 2012-05-18:
ConocoPhilips, among the world’s biggest oil producer from the United States, has invested US$1.5bil (RM4.6bil) in Malaysia so far for oil production in offshore Sabah.
Prime Minister Datuk Seri Najib Tun Razak said the company’s investment was to realise the 300,000 barrels per day production target in 2016.
“Conoco has invested in three areas off Sabah, but that takes end of 2013 for the first production, but the peak will be in 2016, where they expect the production to touch 300,000 barrels a day, about half of our current production,” said Najib to Malaysian journalists after his meeting representatives of America’s leading corporate companies at Havard Club of New York here.
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Wata - Malaysian Oil and Gas Engineer 