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Malaysia's Energy Industry

in figures

Oil reserves2.7 billion barrels

Oil production573,000 bopd

Gas reserves900 mcm

Gas production74.2 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.

Shell finalises sale of offshore Malaysian assets
NEWS
Malaysia - March 16, 2023

Shell has completed the sale of two offshore oil and gas concessions in Malaysia’s Baram Delta, the London-headquartered…

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Contracts signed to develop Angola’s Agogo field
NEWS
Angola - February 28, 2023

Yinson Production and Subsea 7 have entered agreements with Azule Energy to develop the offshore Agogo Integrated West Hub…

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Malaysia opens new oil and gas bid round
NEWS
Malaysia - February 20, 2023

Petronas has launched its 2023 oil and gas bid round with 10 blocks and two clusters of discovered resource opportunities on offer, the Malaysian NOC announced on…

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Malaysia signs PSCs offered under its 2022 bid round
NEWS
Malaysia - January 19, 2023

Petronas has signed PSCs with local oil and gas players for three offshore clusters under the Malaysia Bid Round 2022, the Malaysian NOC announced on Tuesday.

The A…

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Shell divests interest in Malaysian assets
NEWS
Malaysia - December 14, 2022

Shell has agreed to sell its non-operating stakes in two offshore blocks in Malaysia’s Baram Delta, the British energy giant announced on Tuesday.

The agreement…

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European oil and gas giants post Q3 profits
NEWS
Multinational - October 27, 2022

Shell and TotalEnergies have both reported earnings of more than USD 9 billion in Q3 2022, the two energy giants announced on Thursday.

UK’s Shell announced…

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Interview
Mexico - September 15, 2022

Gabriel Gomez, Murphy Oil Corporation’s Mexico country manager, talks to The Energy Year about the key challenges for Mexico’s E&P bid rounds, the company’s plans…

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Energy, Ukraine and the Turkish question Mehmet Ogutcu
Interview
Multinational - May 06, 2022

Mehmet Öğütçü, CEO of Global Resources Partners and chairman of the London Energy Club, talks to The Energy Year about changes in the global energy picture brought…

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