PETRONAS makes significant exploration discoveries in 2023


PETRONAS said that more than half of the discoveries were made in the Sarawak Basin, primarily in two clusters within the Balingian and West Luconia geological provinces.

PETALING JAYA: Petroliam Nasional Bhd (PETRONAS) and its contractors recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over one billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023.

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.

Get 30% off with our ads free Premium Plan

Monthly Plan

RM9.73/month

Annual Plan

RM8.63/month

Billed as RM103.60/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Alpro Group collaborates with Panasonic to reduce airborne threats
Fajarbaru wins RM121mil contract for Johore Golf & Country Club construction
Shenzhen Shenyue Investment, IWH and PLS sign MoU to build industrial park and innovation hub in Johor
Bursa Malaysia finishes with over 600 stocks in the red
Most Asian FX, equities fall as China's parliament meeting disappoints
Oil extends fall as China's economic reforms underwhelm investors
Gov proposes for consolidation of oil palm smallholders to bigger clusters
Masimo Malaysia invests RM100mil to set up production facility in Johor
CIMB Islamic and PETRONAS sign inaugural Tahawwut Master Agreement for Islamic commodity derivatives
Cryptoverse: Asian traders give bitcoin blast-off

Others Also Read