Malaysia has plenty of untapped oil reserves – PETRONAS CEO

06 June 2011 11:26  [Source: ICIS news]

KUALA LUMPUR (ICIS)--Malaysia has a significant amount of resources that remain untapped despite being faced with maturing producing oil and gas fields, PETRONAS CEO Shamsul Azhar Abbas said on Monday.

About 1.7m barrels of oil equivalent in the country are yet to be produced and more could be done through commercial partnerships to improve oilfield recovery, Shamsul told delegates at the 16th Asia Oil and Gas Conference (AOGC) in Kuala Lumpur, Malaysia.

Geologically complex areas such as deepwater and high pressure or high temperature reservoirs are expected to make important contributions toward efforts in sustaining the country's production, he added.

The AOGC runs from 5-7 June.

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections


By: Nurluqman Suratman

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