Sign up | Log in



Home  >>  Daily News  >>  Malaysia News  >>  Energy  >>  Malaysia’s Petronas spends 13.7bn ringgit on exploration and production
NEWS UPDATES 9 December 2009

Malaysia’s Petronas spends 13.7bn ringgit on exploration and production

Related Stories

December 3, 2009
Malaysia’s Petronas sheds stakes in Irish gas fields

November 20, 2009
Germany’s solar power firm plans office in Malaysia

October 23, 2009
Malaysia may have to review petrol subsidy as crude prices go up

October 2, 2009
Malaysia may raise power tariff in 2010

Malaysia’s stateenergy firm Petroliam Nasional Bhd (Petronas) spent 13.7 billion ringgit (1$=3.4 ringgit) on its exploration and production (E&P) business in the first six months ended Sept 30, or 9.8 percent more than in the year-earlier period, reported theStarBiz.

The higher E&P spending was by “upstream subsidiaries for the production and development of various blocks,’’ it said but gave no further information.

The national oil company also spent 2.1 billion ringgit to shore up its shipping segment during the period. According to figures posted on the group’s website, Petronas increased capital expenditure (capex) at home by 27 percent to 13.7 billion ringgit during the period under review, but cut spending overseas by more than half to 5.5 billion ringgit.

This led to a drop in Petronas’ total capex to 19.2 billion ringgit in the first half, down 17.2 percent against 23.2 billion ringgit the year before.

On the production side, Petronas said the group’s total oil and gas output declined in the first six months “due to the implementation of reservoir management plan and flaring reduction efforts.’’

“There has also been an increase in maintenance activities,’’ it said.

Petronas’ oil output stood at 725,800 barrels per day (bpd), while gas production was one million bpd in oil equivalent. Its overseas production made up 275,400 bpd in oil and 367,400 bpd in gas production.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand