As the custodian of Malaysia’s petroleum resources, PETRONAS is focused on pursuing sustainable value-driven production growth, monetising oil and gas resources, strengthening core capabilities and building upon each of these competencies. Malaysia’s production currently stands at about 550 kbd liquids and 6100 mmscfd gas with over RM600 billion worth of investments made since the incorporation of PETRONAS in 1974.
The availability of established midstream infrastructures and processing facilities, as well as proximity to demand centers and growth markets in Asia will continue to enable success in monetisation of discoveries. A network of more than 10,000km of pipelines links more than 380 offshore platforms with 19 floaters and 14 onshore terminals, within the range of supply and helicopter bases to support offshore operations.
Over the decades, PETRONAS has taken the lead in ensuring demand for hydrocarbons produced in Malaysia, including establishing refining and/or petrochemical complexes spanning seven Malaysian states, and building interstate gas pipelines to link with industrial and power sectors across Malaysia and into Singapore. Pipeline linkages with Indonesia, Thailand and Vietnam further enhance the robustness of the market for hydrocarbons. The PETRONAS LNG Complex in Bintulu with a production capacity of 29.3 million tonnes per annum is among the world’s biggest LNG production facilities and is further complemented by PETRONAS’ Floating LNG (PFLNG) Satu and PFLNG Dua, the only energy company to own and operate two floating LNG facilities.
MPM spearheads Malaysia exploration plans and activities to create opportunities through testing of new play types, extensive seismic, non-seismic and geological studies to increase the prospectivity of acreages; and through planning of exploration drilling with the objective of increasing the discovery of oil and gas resources to replenish and build up commercial reserves.
MPM is responsible in driving resource maturation and monetisation through advanced subsurface studies and effective development project execution and delivery. This is further supported by extensive network of offshore infrastructure with 429 offshore platforms, 10,000km pipelines and 34 terminals for easy tie-in and faster evacuation, and availability of local OGSE in the ecosystem to provide the necessary products and services to these project development activities.
MPM oversees petroleum operations activities by its contractors to ensure optimum production in prudent and safe manner for people, facilities and environment. MPM manages long-term oil & gas production to safeguard national security of supply in coordination with power, petrochemicals and other industrial sectors in Malaysia.
PETRONAS through MPM manages all disused structures of oil and gas fields at the end of its production life e.g. removal of offshore structures and pipelines. In support of environmental biodiversity and sustainability, one of the efforts taken was Malaysia’s very own Rig-to-Reef (R2R) project, utilising decommissioned offshore structures which were transformed into flourishing man-made reefs.
Malaysia has an integrated and readily accessible supply chain network to support the oil and gas business and operations in the country. This integrated network provides key advantages in meeting the high demands and requirements posed by the expansive oil and gas industry.
MPM regulates, shapes and enables Malaysia’s E&P sector through close partnership and the establishment of a well-rounded ecosystem comprising of various stakeholders ranging from government bodies to energy companies, business associations and higher learning institutions.