Fuelling growth: Petronas sets sights on two million barrels a day by 2027
- Feb 3, 2025
- 1 min read
Saturday, 01 Feb 2025 8:25 AM MYT
Petronas said it aims to grow and sustain the country’s oil and gas production at 2 million barrels of oil equivalent (mmboe) per day between 2025 and 2027, up from 1.7 mmboe in 2024. — Reuters pic
KUALA LUMPUR, Feb 1 — Malaysian state-owned energy firm Petroliam Nasional Berhad will look to boost the country’s oil and gas output through key projects over the next three years, it said in its activity outlook report.
Petroliam Nasional, or Petronas, said it aims to grow and sustain the country’s oil and gas production at 2 million barrels of oil equivalent (mmboe) per day between 2025 and 2027, up from 1.7 mmboe in 2024.
Its target will be realised through projects such as the Kasawari gas development off Sarawak state on Borneo, and the redevelopment of the Gumusut-Kakap, Bekok, Tabu and Seligi oil and gas fields, among others, Petronas said in the report published on Tuesday.
For the next two years, about 15 exploration wells are forecast to be drilled each year, focusing on shallow-water wells and deepwater wells, according to the report.
Petronas said its outlook for upstream development projects remains steady for the next three years, with 69 development wells in 2025 compared to 56 in 2024.
Petronas forecasts more than 400 wells to be drilled, and expects 39 upstream projects to be executed over the next three years, including the construction of three offshore central processing platforms, three onshore facilities, and fabrication and installation of about 900 kms of pipelines. — Reuters
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