M’sia O&G sector poised for massive growth


Dateline 2014-03-12, The Star:

Deloitte’s O&G (oil and gas) experts say Malaysia’s O&G sector will see between RM26bil and RM30bil in mergers and acquisitions, as well as RM22bil in capital spending on projects, this year.

Deloitte Malaysia corporate finance executive director, Nizar Najib, pointed out that Petronas’s planned capital expenditure of RM300bil between 2011 and 2016, as well as investments in Enhanced Oil Recovery (EOR), marginal fields and deepwater exploration, would likely give a massive boost to the O&G sector in the next few years.

“In the near-term, we expect to see an increase in oil production. Meanwhile, long-term upsides can be expected from gas, and therefore Malaysia is positioning itself to be a regional hub for LNG and petrochemicals through projects such as RAPID, FLNG (floating liquefied natural gas) and overseas acquisition in Canada.”

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