The geographic position of Malaysia makes it an ideal world trader. The country enjoys political stability combined with a vibrant economy and above average infrastructure and communications networks. In addition, it has been blessed with abundant natural resources, including oil and gas, spices, hardwood, and rubber.
Malaysia has eight Tertiary sedimentary basins with oil and gas potential. Three of these basins (Malay, Greater Sarawak and West Sabah) have seen the majority of exploration activity, while the other five have been only sparsely explored. However, small discoveries have been made, and mature source rocks, quality reservoirs, sound traps and good seals have been encountered.
The domestic consumption of oil is on the increase, and the use of natural gas – as an oil substitute – is on the rise. As of January 1994, Malaysia had 4.3 billion barrels of recoverable oil reserves and 76 TCF of natural gas.
Until recently, the harsh terms of the Malay fiscal regime prevented foreign companies from exploring the country vigorously, except for those that had previously discovered large reserves. During 1994, the government introduced important modifications to the Production Sharing Contract in order to attract interest in deepwater tracts offshore Sarawak.For more information contact:
Petrel Robertson Consulting Ltd.
500, 736- 8th Avenue S.W.
Phone: (403) 218-1618
Fax: (403) 262-9135
This summary, part of Petrel Robertson’s 1995 summary of exploration and development opportunities in 31 countries around the world, has not been updated. Some of the information, particularly relating to political and economic issues, is thus out of date. It is included, however, to demonstrate the breadth and depth of Petrel’s work in each of these nations.