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Petronas See Oil and Gas Output of 2.7m Until 2030

ENERGY

Petronas sees its domestic oil and gas production peaking at about 2m boepd by 2024 with about 60-70% of production from natural gas according to exploration executives on 27 June.

  • "We continue to look for more gas portfolio, but of course, there is commitment in Malaysia, I think we need to continue to do some oil exploration to fill up our refineries," said executive vice president & CEO upstream, Adif Zulkifli.
  • Petronas aims to expand its overseas portfolio to 700k boepd by 2024 driven by increased output from its 14mtpa Canada LNG joint venture project in Kitimat.
  • A combined production of 2.7m boepd of domestic and overseas production are expected to be maintained until 2030 compared to an average production of 2.4m boepd in 2022.
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