Reach sees turnaround by year-end on better oil prices

Shahul: ‘In 2018, we expect crude oil prices to go above US50 per barrel.’

KUALA LUMPUR: Oil and gas (O&G) exploration and production company Reach Energy Bhd is expecting a turnaround by the end of this year on higher oil prices.

Chief executive officer Shahul Hamid Mohd Ismail said the company plans to increase production to between 4,000 barrels of oil per day (bopd) and 5,000 bopd by the end of the year.