Petronas first made its debut into the international oil and gas industry scene in the early 1990s with the launch of activities in Myanmar and Vietnam. In present time, Petronas is involved in upstream exploration and production in 20 countries across the globe, while its downstream operations run in 42 countries.
Each project explores different areas of the oil and gas industry. For instance, in Canada, Petronas is focusing on monetising the natural gas resources in North Montney through its wholly-owned subsidiary Progress Canada. Canada holds the second largest gas resources in Petronas’ portfolio after Malaysia.
Besides that, Petronas also has its sight on exploring oil and gas in the state of Tamaulipas, on Mexico’s northern coast. The oil magnate company was awarded six blocks of oil by the Mexico’s government last year. Furthermore, Petronas’ exploration does not just stop in Mexico, it has also set up a lubricant plant and conducts exploration in South America.
In the Middle East, Petronas is involved in two main projects in both Iran and Iraq. Starting in late 2016, the company has been involved in research project in Iran’s South Azadegan and Cheshmesh Khosh oil fields. This venture marks Petronas’ return to the country, which bought crude from Iran before international sanctions were imposed.
Meanwhile in its upstream operations in Iraq, Petronas is presently operating the Garraf oil field located in Iraq’s Thi Qar Province. In 2013, it managed to achieve its first oil from the field and currently produces 100,000 bpd. Petronas targets to hit a peak production of 230,000 bpd this year.
Closer to home in Asia, Petronas’ is now operating three projects in China, Thailand and Brunei. In the land of the red dragon, Petronas is involved with LNG trade and expansion of the PLI’s lubricant-blending plant in the Weifang Economic Development Zone.
Whereas in Thailand, Petronas has been supplying piped natural gas to Thailand from its Yetagun project as well as from the Thailand-Malaysia Joint Development Area in the Gulf of Thailand. A bit closer to home, in Brunei, Petronas has their focus on deepwater drilling. In December 2013, PetroleumBRUNEI awarded Petronas Carigali Brunei the PSAs for Blocks N and Q which are located in the eastern shallow water areas offshore Brunei.
Petronas also has ventures in the land Down Under. The Gladstone Liquefied Natural Gas (GNLG) project in Australia, a joint collaboration between Petronas and Australian-owned oil and gas company Santos, is the first of its kind in processing coal seam gas (CSG) into LNG as a cleaner energy source.
Speaking to the press this year, Petronas expressed that they plan to develop new oil and gas exploration projects in 2018 to 2020, with focus on new growth areas while maximising exploration of existing projects.
Reference - NST
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