05/02/2025 by OilStoreAdministrator
To support Malaysia’s journey to net-zero, Petronas has unveiled its Activity Outlook for 2025–2027.
It highlights how significant it is that the Oil and Gas Services and Equipment (OGSE) ecosystem focuses on financial resilience, the development of human capital, sustainability and innovation.
The report covers clean energy generation, maritime and gas, upstream and downstream and the production of lubricant products, among others. Petronas says it is committed to encouraging economic growth in the country by collaborating with other industry players and improving safety, sustainability and performance.
Rashidah Alias, the vice president of group procurement at Petronas, said:
“Petronas aspires to see industry players thrive in supporting the broader Malaysian gas and oil industry and the nation’s journey of energy transition and energy security. By co-creating solutions and maintaining open communication, we can drive meaningful change and innovation.”
Petronas, which also makes lubricant and grease products, says it is targeting sustainable production of gas and oil in Malaysia with two million barrels of oil equivalent per day. Over the coming years, Petronas predicts a steady increase in projects, to 69 development wells in this year – up from 56 development wells last year. This will help offset the 153 wells that will need to be plugged and abandoned in the coming years.
Carbon capture and storage (CCS), especially with the Kasawari project, is also positioned as a key venture. The downstream part of the business is expected to include biofuels at a new refinery and the production of specialty chemicals.
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