KUALA LUMPUR - MALAYSIA'S state-owned energy giant Petronas on Monday said it has discovered new offshore oil and gas reserves in eastern Sarawak state.
Successful drilling of a well last March and a subsequent appraisal well brought a significant discovery for Petronas with early estimates showing there are 2.6 trillion standard cubic feet of net gas in place, it said.
Petronas said that in the next three years it, along with its production-sharing contractors, expected to drill more than 50 exploration wells off Malaysia.'These activities, especially if they result in discoveries, are expected to spur business opportunities in the oil and gas industry and will promote upstream investment in the country,' it said.
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