MALAYSIA TARGEST SUSTAINED GROWTH IN OIL AND GAS RESERVES
September 1st, 2013
PETRONAS, Malaysia's state-owned oil and gas (O&G) company, plans to increase the country's O&G production and resource addition at a compound annual growth rate (CAGR) of 3.5% over the five years 2013 through 2017.This target follows Petronas' announcement in January 2013 of plans to spend MYR186 billion (USD56.7 billion) on the country's O&G sector over the next five years, and to increase significantly its production activities for both hydrocarbons.A Petronas spokesperson told Petroleum Review that because Malaysia is facing maturing fields and ...
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