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Msia's Oil & Gas Reserves
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Malaysia Oil and Gas Reserves
As at 1 January 2002, Malaysia has 82.5 tcf of gas reserves.59% of these reserves are located in offshore of Sabah and Sarawak, whilst 41% are in offshore Peninsular Malaysia. There were 728 exploration wells drilled from 1975 – 2001.
As of January 2002, Malaysia is rank 12th in the league of Gas World Gas Reserves. |
| PETRONAS is the National Oil Company of Malaysia with rights to all hydrocarbon in the country. Global oil majors like Exxon, Shell and other oil companies hold Production Sharing Concession in the country. PETRONAS itself has its own Exploration and Production arm and explore and produce along with the oil majors either as partner or with their own risk investments. Malaysia's gas reserves is approximately equivalent to four times her oil reserves of 3.4 billion barrels. At current rate of gas production, the average life for Malaysia' gas reserves is 51.2 years. As our domestic reserves decline, efforts are being pursued to increase domestic reserves including deepwater exploration and application of new technologies.In terms of gas production, PETRONAS ranks no: 4 world wide behind the majors with a production of 5500 mmscfd or 50 bcm/yr. |
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