Repsol to invest RM600mil in oil & gas projects

Dateline 2017-02-08, The Star:

Repsol Oil and Gas Malaysia Ltd is investing about RM600mil for the construction of two oil platforms and in drilling several wells.

The platforms are to be constructed at Peninsular Malaysia 3 (PM3) near the border with Vietnam and at Medan Kinabalu off Sabah waters.

The company’s communication, government relations and community senior general manager Farid Jaafar said works for the projects would start at year-end and early next year respectively.

He said the projects would generate employment and business opportunities for locals.

“Despite the slowdown in the oil and gas sector, Repsol is still expanding due to our commitment and business strategy,” he added.

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