Monday, January 10, 2011

PM announces RM20b oil, gas and energy projects

KUALA LUMPUR: Datuk Seri Najib Razak announced 19 entry point projects and developments of which four projects would be in the oil, gas and energy with investments totalling more than RM20 billion.

The Prime Minister said on Tuesday, Jan 11 ExxonMobil Exploration and Production Malaysia Inc in conjunction with its production sharing partner partner Petronas Carigali Sdn Bhd would invest in excess of RM10 b in new oil and gas assets.

These investments include to rejuvenate mature facilities and enhanced oil recovery in the Tapis field.
Najib also said that Shell Malaysia would invest RM5.1 billion in projects to upgrade and build facilities in upstream, midstream and downstream in the country.

He said Shell’s investment would be for these facilities across Malaysia including the new Shell MDS wax plant in Bintulu and new diesel processing unit at Shell Refinery in Port Dickson.

Najib also said another project would be undertaken by DIALOG GROUP BHD which was in Pengarang, Johor.

Source: The Edge, 11 Jan 2011

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