KUALA LUMPUR, Jan. 7 - World's oil giant Shell will continue to expand its investment in Malaysia in view of the potential of its deepwater fields.
Malaysia is a key country for the Shell group so that it will continue to invest in the country to sustain and strengthen its position as a leading international oil and gas company here, local newspaper New Straits Times quoted Shell Malaysia's former chairman Saw Choo Boon as saying here on Thursday, before he resigned from the post.
Saw said that Malaysia's oil and gas industry was still robust in the medium term as some deepwater fields can hold some reserves, while mature fields can yield more oil and gas.
He noted that Malaysia still exported more oil and gas than it consumed currently, though it would hard to maintain given the increasing energy usage from a bigger and richer population and the reduction of easily accessible oil and gas.
However, he added, the situation might occur some years off as there was still quite some potential for deep waters off East Malaysia's states of Sabah and Sarawak, which Shell is actively engaged in, and enhanced recovery from matured fields.
The industry has been crucial for Malaysia as it contributes much to the nation's wealth and capability building, said Saw.
The industry has also installed sufficient refining capacity to more than meet all the country's demand, he said, adding that a comprehensive oil and gas support infrastructure of local service companies and fabrication yards have evolved and are capable of competing globally.
Despite a challenging year in 2009 when the oil price dropped, Shell had made a major achievement -- maintain its significant investment program, including its deepwater projects with local partners like Petronas, the national oil company of Malaysia, he noted.
He said that Shell has set up a regional outfit in Kuala Lumpurto manage its deep-water projects.
In the downstream, Shell has also announced earlier an expansion project for Shell MDS plant in Bintulu, Sarawak, which was expected to double its wax output there, he added.
Malaysia is a key country for the Shell group so that it will continue to invest in the country to sustain and strengthen its position as a leading international oil and gas company here, local newspaper New Straits Times quoted Shell Malaysia's former chairman Saw Choo Boon as saying here on Thursday, before he resigned from the post.
Saw said that Malaysia's oil and gas industry was still robust in the medium term as some deepwater fields can hold some reserves, while mature fields can yield more oil and gas.
He noted that Malaysia still exported more oil and gas than it consumed currently, though it would hard to maintain given the increasing energy usage from a bigger and richer population and the reduction of easily accessible oil and gas.
However, he added, the situation might occur some years off as there was still quite some potential for deep waters off East Malaysia's states of Sabah and Sarawak, which Shell is actively engaged in, and enhanced recovery from matured fields.
The industry has been crucial for Malaysia as it contributes much to the nation's wealth and capability building, said Saw.
The industry has also installed sufficient refining capacity to more than meet all the country's demand, he said, adding that a comprehensive oil and gas support infrastructure of local service companies and fabrication yards have evolved and are capable of competing globally.
Despite a challenging year in 2009 when the oil price dropped, Shell had made a major achievement -- maintain its significant investment program, including its deepwater projects with local partners like Petronas, the national oil company of Malaysia, he noted.
He said that Shell has set up a regional outfit in Kuala Lumpurto manage its deep-water projects.
In the downstream, Shell has also announced earlier an expansion project for Shell MDS plant in Bintulu, Sarawak, which was expected to double its wax output there, he added.
