Energy

Oil and gas represent an important but slowly declining source of Malaysia’s exports and government revenues. Projected to become a net importer of both fuels by 2017, Malaysia is seeking to boost both upstream and downstream capacity, develop expertise in oilfield services, and promote renewable energy. The government has offered tax incentives for projects that use enhanced oil recovery (EOR) technology, and is integrating EOR requirements into production contract extensions. Declining oil is also spurring greater investment in new fields like the North Malay Basin. On the gas side, meanwhile, Malaysia is investing in regasification plants, floating LNG terminals, and other infrastructure in order to establish itself as a gas transport and trading centre. This chapter includes an interview with Emir Mavani, CEO, Malaysia Petroleum Resources Corp.