Malaysia records over 1bil barrels of oil equivalent exploration discoveries in 2023

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and its petroleum arrangement contractors recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over 1.0 billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023.

In a statement today, the national oil company said the achievement was the result of an intensified exploration programme pursued in the last few years, which saw the drilling of 25 wells, the highest number of exploration wells drilled in a single year since 2015.