OTCA Shows Strong Interest From Major Oil & Gas Players In Investing In Malaysia

May 10, 2014

Dateline 2014-03-31, Bernama:

The recently concluded Offshore Technology Conference Asia 2014 (OTCA) showed strong interest from major oil and gas (O&G) players towards investing in Malaysia.

RHB Research in a research note today said among the players were UK-based Petrofac Ltd, Talisman Malaysia Ltd, Murphy Sarawak Oil Co Ltd and Shell Malaysia.

The research house said Talisman Malaysia which was granted a progressive volume based (PVB) production-sharing contract (PSC) for its Kinabalu oil fields, wants to boost the improved oil recovery potential and reap synergies from the Samarang project, off Sabah.

The oil company is also looking at extension acreage for its SB309/310 field, off Sabah, with three to four well exploration programmes this year and boost the recovery rate of its 41 per cent-operated Block PM3 CAA, offshore Peninsular Malaysia to 40 per cent from 30 per cent, it added.


Malaysia’s upstream O&G sector capex to near US$60b over 5 years, says Najib

May 3, 2014

Show us the money!

Malay Mail, dateline 2014-03-25:

The capital expenditure in Malaysia’s oil and gas sector’s upstream business is forecast to near US$60 billion (about RM198 billion) over the next five years, Prime Minister Datuk Seri Najib Tun Razak said today.

He said the amount contributed significantly to the total upstream spending in South East Asia, which was expected to receive one-fifth of the global upstream spending in the next decade.

“While global upstream spending in the oil and gas sector is expected to remain set at around US$700 billion (about RM2.31 trillion) over the next decade, close to 20 per cent of this spending will be here in South East Asia,” said Najib, who is also the Finance Minister, at the opening of the inaugural Offshore Technology Conference Asia 2014.