The Petroleum Development Act of 1974 (PDA) provides PETRONAS with regulatory supervision over all upstream activities, and investors are required to enter into Petroleum Arrangement (PA) contracts with PETRONAS for the right to explore and produce oil in Malaysia. Providers of goods and services for the upstream sector are also required to be licensed by PETRONAS.
Investors are encouraged to discuss their interests with Malaysia Petroleum Management (MPM).
Malaysian Investment Development Authority (MIDA) is the government’s one-stop-center ready to assist potential investors and facilitate the implementation of their investments in Malaysia. The wide range of services provided by MIDA include providing information and advice on government policies and procedures as well as available tax and other incentives for investors.
It is the principal agency under the Ministry of International Trade and Industry (MITI) responsible for the promotion of the manufacturing and services sectors in Malaysia.
Investors are encouraged to visit www.mida.gov.my to learn how to get started and to establish contact with MIDA's officers for consultation.
The vibrant metropolis of Kuala Lumpur and its vicinity has been the choice for a great majority of petroleum investors to establish their base. InvestKL, as a government investment promotion agency is dedicated towards guiding businesses in establishing their presence in the capital of Malaysia.
A Government agency under MITI, InvestKL is tasked with assisting global corporations in establishing their regional headquarters or hubs in Greater Kuala Lumpur. For further information, visit www.investkl.gov.my.