About Malaysia
• Population: 29 million
• Many ethnic groups. Malays make up 50% of the population
• Independent from Britain in 1957
• Significant oil and natural gas producer
• Strategically located amid important routes for the seaborne energy trade
• The third largest exporter of LNG
• The national oil company, Petronas, has built a strong portfolio outside Malaysia
• The oil and gas sector is playing a key role in developing Malaysia into a high-income country
Oil
Petronas has exclusive ownership rights to all oil and gas exploration and production projects in Malaysia. The country has high focus on efforts to enhance output from more than 100 marginal oil and natural gas fields and to advance exploration in deepwater areas. New tax and investment incentives were introduced in 2010 to promote oil and natural gas exploration and development. Malaysia has ambitions of becoming a deep water hub for the Asia Pacific region. The first deep water field is on stream and several new fields are under development. More than half of total oil production currently comes from the Tapis field in the offshore Malay basin.
Oil overview 2010
• Proven oil reserves: 5,8 billion barrels
• Oil production: 0,7 million barrels per day
• Oil consumption: 0,6 million barrels per day
Major oil producers
• Petronas Carigali
• Shell
• ExxonMobil
• ConocoPhillips
• Murphy
• Talisman
Natural Gas
Petronas dominates the natural gas sector. The company has a monopoly on all upstream natural gas developments, and also plays a leading role in downstream activities and the LNG trade.
The Bintulu LNG complex on Sarawak is the main hub for Malaysia's natural gas industry. The Bintulu facility is the largest LNG complex in the world, with 8 production trains. Petronas is constructing new LNG facilities as well as facilities to receive LNG from its gas fields internationally. Petronas has launched a major new refining and petrochemical project.
Several projects will expand natural gas production in Malaysia over the near term. Exploration and development activities in Malaysia continue to focus on offshore Sarawak and Sabah.
One of the most active areas for natural gas exploration and production is the Malaysia-Thailand Joint Development Area (JDA), located in the lower part of the Gulf of Thailand.
The gas industry
• Proven natural gas reserves: 84 trillion cubic meters
• Natural gas production: 66,5 billion cubic meters
• Natural gas consumption: 35,7 billion cubic meters
Main Markets
Other Priority Markets
Local Oil and Gas Advisor, Malaysia
