Opportunities in Malaysia’s E&P Activities
Looking at the plans by Petronas to boost oil output and export levels from Malaysia over the next five years and foreign direct investment (FDI) trends, demand for O&G equipment and services is set to increase to support the expansion in the E&P activities.
These include jobs to make drilling rigs; build, transport and install platforms; supply drilling mud; provides diving services and supply bases; consulting and maintenance services; chartering offshore vessels and barges.
There is also no shortage of promising marginal fields for development in Malaysia over the next few years as Petronas is also stepping up efforts to pursue necessary cost-efficient solutions for small field development. Some 90 “hotspots” have been identified as marginal fields potential and are expected to be developed from now and 2010.
The opportunities and potential beneficiaries from various O&G segments in Malaysia are:
- 25 marginal field operations with 90 potential hotspots;
- Rising activities in Petroleum Supply Base operations;
- New rigs (of various types) contracts;
- New offshore platforms, engineering equipment, process equipment;
- O&G pipe threading activities;
- Requirement for new vessels;
- Sabah Oil & Gas Terminal project in Kimanis. (Source: Aseambankers)