ConocoPhillips, Eastman Chemical To Invest $5.35 Billion In Malaysia


Dateline 2012-05-19:

ConocoPhillips (COP) is expected to make an additional $5 billion investment to ramp up its operations in Malaysia, the New Straits Times daily reported Saturday citing Malaysia’s Prime Minister Najib Razak.

The oil giant had invested $1.5 billion so far in three deepwater blocks offshore of Sabah state where production will start next year and hit a peak of 300,000 barrels of oil a day by 2016, the daily reported.

The paper also reported that Eastman Chemical Co. (EMN) is looking to increase its investment by $350 million on its polyester plastics plant in Pahang state.

This entry was posted on Thursday, June 21st, 2012 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.

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