PETRONAS has announced its upstream investment strategy for Malaysia. The company aims to sustain the nation’s oil and gas production. This target stands at approximately 2 million barrels of oil equivalent per day (boed).
PETRONAS plans to maintain this production level through 2028. Continued capital allocation will support this goal. The strategy focuses on specific key initiatives across the upstream sector.
Sustaining Production Targets
The primary objective for PETRONAS involves maintaining robust production volumes. Malaysia’s upstream sector will consistently deliver around 2 million boed. This commitment extends for the next five years, reaching into 2028.
Key Investment Pillars
PETRONAS’s strategy rests on several critical investment areas. These pillars ensure the long-term viability and output of Malaysia’s oil and gas fields. The company targets three main categories for significant capital deployment.
Exploration Efforts
Exploration activities remain fundamental. PETRONAS will continue searching for new hydrocarbon reserves. Discovering new fields is vital for replenishing existing resources and ensuring future supply.
Deepwater Developments
Deepwater projects represent another crucial focus. These complex developments unlock significant potential. Investing in deepwater technology and infrastructure will contribute substantially to overall production volumes.
Enhanced Oil Recovery Initiatives
Enhanced Oil Recovery (EOR) technologies are also a key component. EOR methods help extract more oil from mature fields. Implementing these advanced techniques maximizes resource recovery and extends field lifespans.
Through these focused investments, PETRONAS reinforces its commitment. The company aims to ensure stable and sustained energy output for Malaysia until 2028.
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