Is Petronas strategy bearing fruit?


Dateline 2014-04-26, Malaysia Chronicle:

EXPLORATION AND PRODUCTION – National oil company went into deeper waters and complex fields the past four years

Petroliam Nasional Bhd (Petronas) has embarked on an aggresive exploration and production strategy, testing new play types in deeper waters and complex fields the past four years, which have proven fruitful.

Petronas president and chief executive officer Tan Sri Shamsul Azhar Abbas said this has helped the group unlock new reserves in Malaysia that were only years ago considered too challenging and costly.

“For the second year running, we have increased domestic production, thanks to our enhancement of initiatives,” he said at the opening of the Offshore Technology Conference Asia 2014, here, yesterday.

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