Oil & Gas

Malaysian state-owned energy firm Petroliam Nasional Berhad (Petronas) has announced plans to increase the country’s oil and gas production through key projects over the next three years. In its latest activity outlook report, Petronas stated its goal of sustaining production at 2 million barrels of oil equivalent (mmboe) per day between 2025 and 2027, up from 1.7 mmboe in 2024.

To achieve this target, Petronas will focus on major developments such as the Kasawari gas project off Sarawak state on Borneo, as well as the redevelopment of key oil and gas fields including Gumusut-Kakap, Bekok, Tabu, and Seligi. These initiatives are expected to enhance production capacity and contribute to the country’s overall energy security.

Exploration activities will also be a priority, with around 15 wells set to be drilled annually over the next two years. Petronas is placing emphasis on both shallow-water and deepwater projects to maximize resource potential. The company expects steady growth in upstream development, with plans to drill 69 wells in 2025, up from 56 in 2024.

Looking ahead, Petronas forecasts the execution of 39 upstream projects over the next three years. These will include the construction of three offshore central processing platforms, three onshore facilities, and the installation of approximately 900 kilometers (559 miles) of pipelines. With these ambitious plans, Petronas aims to strengthen Malaysia’s position in the global energy market.