Petronas considers a shift in focus

Malaysia's state-owned Petronas is turning to the development of deep-water and brownfield activities in order to sustain its production levels, and is considering ramping up its development of biofuels.

Mohd Zamri Jusoh, senior manager for research development at Petronas Management Uni said with recent oil and gas discoveries, especially in Sabah and Sarawak, the company is focusing on deep-water activities. Meanwhile, Petronas also said it would look at the possibility of developing its commitment to biofuels in view of the growing popularity of the renewable energy source. Petronas is repositioning its research and development division to look at alternative energy sources. Malaysia is planning to make palm oil-based biodiesel development a national policy as it seeks to tap the booming biofuel market and reduce its reliance on fossil fuels.

Read More