M’sia O&G sector poised for massive growth

Deloitte's O&G leaders say Malaysia's O&G sector is set for massive growth in 2014 and the next few years.

KUALA LUMPUR: Deloitte's O&G (oil and gas) experts say Malaysia’s O&G sector will see between RM26bil and RM30bil in mergers and acquisitions, as well as RM22bil in capital spending on projects, this year.

Deloitte Malaysia corporate finance executive director, Nizar Najib, pointed out that Petronas’s planned capital expenditure of RM300bil between 2011 and 2016, as well as investments in Enhanced Oil Recovery (EOR), marginal fields and deepwater exploration, would likely give a massive boost to the O&G sector in the next few years.