News

Malaysia is important to world energy markets because of its huge oil and natural gas resorts. Malaysia's oil production occurs offshore and primarily near Peninsular Malaysia. Production however also takes place offshore of Sabah (East Malaysia) and Sarawak. Current oil reserves are estimated at approximately 3 Billion barrels with a declining tendency, due to the lack of major new oil discoveries in the last years. The most important oil fields are Bekok, Bokor, Erb West, Bunga Kekwa, Guntong, Kepong, Kinabalu Pulai, Samarang, Seligi, Semangkok, Tapis, Temana and Tiong.
Petronas is the state oil and gas company, other main producers include Esso Production Malaysia Inc followed by Sabah Shell Petroleum Company and Sweden's Ludin Oil. Main importers of Malaysian oil are Japan, Thailand, South Korea and Singapore.

Malaysia's natural gas production has been rising steadily in recent years. In 2000 Malaysia accounted for approximately 15% of total liquefied natural gas exports and is estimated to contain a 75 trillion cubic feet natural gas resort. Malaysia mainly exports natural gas to Japan, South Korea and Taiwan. Major natural gas fields include Bedong, Bintang, Damar, Jerneh, Laho, Lawit, Noring, Pilong, Resak, Telok and Tujoh.
Main Production occurs in the lower part of the Gulf of Thailand in the Malaysia-Thailand Joint Development Area (JDA) managed by the Malaysia-Thailand Joint Authority (MTJA). Malaysia's Production of natural gas has recently also been expanded to Sarawak by the Bitulu LNG complex. Leading producers of Malaysian natural gas are BP, Amerada Hess, Petronas and Exxon Mobile.