PETROLIAM Nasional Bhd (Petronas) will maintain the amount of money it spends on oil exploration and production at RM6bil per annum and does not plan to increase that sum any time soon, said its president and chief executive officer, Tan Sri Mohd Hassan Marican.
“We have been spending RM6bil a year on exploration and production for many years now. It's nothing special,'' said Hassan, adding that a lot of money in oil exploration and production also came in the form of foreign direct investment from its production sharing contractors.
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