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PETRONAS oil and gas exploration summary

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Report summary

PETRONAS has long been the dominant player in the Malaysian exploration and production industry. Through its wholly owned subsidiary PETRONAS Carigali the company aims to expand its international market share to become one of the top four E&P companies worldwide. Despite limited international exploration success the company has developed a wide ranging international portfolio. PETRONAS' upstream growth strategy has historically centred on gas focused domestic exploration and on technically challenging themes. These include Floating LNG North American gas exports deepwater development and high impact international exploration. Sustained low oil prices have brought the company's budget and strategy into focus. It was forced to cut up to US$4.6 billion of capital and operating expenditure in 2016 and expects to cut a further US$11.6 billion out to 2020.

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    PETRONAS oil and gas exploration summary

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Table of contents

  • Executive summary
  • Strategy
  • Investment and costs
  • Exploration
  • Reserves and resources
  • Production
  • Valuation

Tables and charts

This report includes 25 images and tables including:


  • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Net active exploration acreage by water depth
  • Net active exploration acreage, excl. Malaysia
  • Exploration wells drilled and spend per well
  • Reserves and resources: Image 1
  • Reserves and resources: Image 2
  • Reserves and resources: Image 3
  • Volumes discovered by basin
  • Volumes discovered by country (excluding Malaysia)
  • Volumes discovered by basin (excluding Malaysia)
  • Production: Image 1
  • Valuation: Image 1
  • Valuation: Image 2
  • Full cycle value creation - Malaysia vs International
  • Costs and development value by reserve category
  • Exploration returns by water depth


  • Ten year performance summary
  • Full-cycle economics
  • SWOT grid
  • Gross exploration & appraisal wells by basin and sector (2006-2015)
  • Top 40 discoveries (2006 to 2015)

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