Dateline 2013-09-25, Malaysian Reserve:
Shell Malaysia has reiterated its confidence to invest US$1 billion (RM3.22 billion) in fixed investments in the Malaysian oil and gas (O&G) industry, providing employment to over 6,500 people, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said.
“I just had a discussion with the Shell leadership including Shell’s group CEO and they have expressed confidence in the country and will continue to invest in the country, he told newsmen after delivering a keynote address at the Shell Malaysia Innovation Summit in Kuala Lumpur yesterday.
A key project that Shell is working on is the Gumusut Kakap, a deepwater field which Shell is developing with Petronas Carigali Sdn Bhd, ConocoPhillips and Murphy. When it goes into full production, it is expected to contribute 20% to 25% of Malaysia’s oil production, with design capacity of 150,000 barrels per day.