Malaysia Oil And Gas News
Background
- Malaysia is a significant oil and natural gas producer and is strategically located amid important routes for the seaborne energy trade. Malaysia’s national oil and gas company, Petroleam Nasional Berhad (Petronas), holds exclusive ownership rights to all oil and gas exploration and production projects in Malaysia and is the single largest contributor of Malaysian government revenues, almost half in 2009, by way of dividends and taxes.
- As Malaysia's oil fields are maturing, the government is focused on enhancing output from existing fields and from new offshore developments of both oil and gas, which are expected to increase aggregate production capacity in the near- to mid-term.
- Malaysia’s western coast runs alongside the Strait of Malacca, an important route for seaborne energy trade that links the Indian and Pacific Oceans. Malaysia's position in the South China Sea makes it a party to the various disputes among neighboring countries over competing claims to the sea's resources. Although Malaysia has bilaterally resolved competing claims with Vietnam, Brunei, and Thailand, a potential problem is the fact that China claims almost all of the South China Sea, including the Spratly Islands, which are in proximity to oil and gas producing basins.
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page revision: 4, last edited: 27 Apr 2012 08:58
