The Oil & Gas Year Malaysia 2017
Malaysia stands at a pivotal stage of development, burdened by low oil prices and other market challenges. TOGY presents all sides of this difficult equation, with in-depth analysis of the entire hydrocarbons value chain, and interviews with top players in the oil and gas industry. Together with the Malaysian Investment Development Authority and the Malaysian Oil & Gas Services Council, The Oil & Gas Year Malaysia 2017 explores the different facets of energy development in the nation.
Petronas, Malaysia’s expansive NOC, set the stage in making its 2017 offering of E&P contracts, reeling in international and local oil and gas players. The offshore market has become a hotbed of possibility as the country’s onshore oil- and gasfields mature and production slows. EOR techniques are being requested by operators across the country, looking to ensure the steady output of fields as the country waits for oil prices to make outward operations cost effective.
As upstream activity slumbers, Malaysia’s focus turns to its downstream operations in order to become a hub for energy in Southeast Asia. Large refinery campaigns have been highlighted by the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, consisting of a giant crude oil refinery with a capacity of 300,000 barrels of oil per day, a naphtha cracker able to produce ethylene, propylene, C4 and C5 olefins, an LNG re-gasification facility and a power generation plant. The RAPID project marks a turning point in the government’s Economic Transformation Programme, which is set to diversify Petronas’ offerings and meet local and international demand for petroleum and commodity petrochemicals in the Asia-Pacific region.