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Malaysia Overview

Malaysia

in figures

Oil reserves2.7 billion barrels

Oil production596,000 bopd

Gas reserves900 mcm

Gas production73.2 bcm

Malaysia: LNG exporter

Malaysia is the second-largest exporter of LNG in the world after Qatar and Australia – and the largest natural gas exporter in South East Asia, with 26.87 million tonnes in 2017. Malaysia is also a major oil producer, with an output of 647,000 bopd in 2015 – the third largest oil producer in South East Asia, of which it exported 365,000 bopd in 2015.  

Marginal field projects include national oil company Petronas’s $1 billion contract with ExxonMobil for the Tapis field the first of seven marginal field EOR projects. Deepwater exploration and production continues at fields such as Gumusut-Kakap and Siakap North-Petai. Regasification terminals being constructed in the Western part of peninsular Malaysia in response to growing demand.

The Economic Transformation Programme launched in 2010 is a plan to transform Malaysia to become a high income country by 2020 as defined by the UN. A key element in that plan is the growing oil field services industry driven by cheap land and labour and the skills of national champion Petronas.

The Oil & Gas Year Malaysia 2017 was produced in partnership with the Malaysian Oil & Gas Services Council, the Malaysian Investment Development Authority, Malaysia Petroleum Resources Council and the Malaysian Gas Association.

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