Regional demand set to fuel Malaysia’s oil and gas sector

Malaysia’s oil and gas industry is poised to grow further in 2006 as regional demand for energy soars, with crude oil and gas output expected to increase 4.2 per cent and 7 per cent respectively during the period.

..This is partly attributed to the fact that Malaysia is emerging as a focus area for multinational oil companies for oil exploration and production.

“Deepwater exploration is also expected to grow in 2006, driven by higher oil prices.

“At the same time, soaring oil prices will increase demand for natural gas as industrial, business and residential consumers switch to natural gas to meet their energy need.

Business Times