Petronas working with authorities to boost output, secure supply

 

Petronas is working with the relevant authorities to secure domestic supply while accelerating efforts to raise crude oil production.

Vice-president of upstream development, Nazlee Rasol, said Petronas, as the national oil company, is ensuring supply security remains a priority, with ongoing engagements focused on identifying the fastest ways to increase output.

He said Petronas is in discussions with service providers, including Weatherford, on technologies and initiatives that could lift oil and gas production.

“Maybe just to give a bit of context, 70 percent of our production we refine domestically, while the other 30 percent we are exporting. So, of course, we need to rethink whether we want to continue to do that or whether we need to make changes,” said Nazlee.

He said this during a panel session on “Accelerating Development for Energy Security: Fast-Tracking Field Strategies in a Volatile World” held at the Offshore Technology Conference Asia today.

Petronas vice-president of upstream development, Nazlee Rasol

Nazlee said Petronas has formed a task force to assess measures to boost production, adding that additional production would help ensure continued supply to its refineries.

“For gas, I guess again in Sarawak, for example, we have an abundance of gas there, and we have our portfolios, but definitely, whatever happens in West Asia will impact some of these portfolios.

“We are, again, working closely with the relevant authorities just to understand how we can improve supply security to ensure it is not affecting Malaysia,” he added.

- Bernama