Country Report

Malaysia upstream summary

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Malaysia remains the second-largest oil and gas producer in Southeast Asia. It is home to some of the largest sour gas discoveries in the region. Several CCS projects are underway such as Kasawari and Rosmari/Majoram to commercialize the sour gas. Recently, there is a recent uptick in exploration and M&A activities in the country, driven by fiscal changes and block offerings.

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
    • Malay, Penyu and North Sumatra/Mergui basins
    • Malay Basin
    • Penyu Basin
    • Mergui Basin
    • Sarawak and Sabah basins
    • Sarawak Basin
      • Baram Delta
      • Balingian
      • SW Luconia
      • Central Luconia
    • Sabah Basin
    • Sandakan and Tarakan basins
    • Licensing
    • Overview
    • Licence Awards
      • 2000 - 2005
      • 2006 - 2010
      • 2011 - 2020
      • 2021 onwards
      • PSC extensions
    • Drilling
      • Drilling activity
      • Success rates
    • Liquids
    • Gas
      • Sarawak
      • Sabah
      • Peninsular
    • Oil/Liquids
    • Gas
      • Peninsular Malaysia
      • Sarawak
      • Sabah
    • Oil infrastructure
      • Peninsular Malaysia
      • Sarawak
      • Sabah
      • Refining
    • Gas infrastructure
    • Peninsular Malaysia
      • The Peninsular Gas Utilisation Project
      • PGU-I
      • PGU-II
      • PGU-III
      • Kerteh Gas Processing Facilities
    • Sarawak
      • Bintulu LNG Plant
    • Sabah
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Key legislation
    • State oil company
      • Vestigo Petroleum
    • State participation
    • Licensing
      • Exploration Periods
      • Exploration and Development Blocks
      • The National Depletion Policy
    • Overview
      • Sarawak and Sabah tax changes 2019-2020
    • Current fiscal terms
    • Basis
    • Government equity participation
    • Royalty
      • Ring fencing
      • Base
      • Rate
      • Payment schedule
    • PSC production sharing
      • Ring fencing
    • PSC cost recovery
      • Base
      • Rate (cost recovery ceiling)
      • Recoverable costs
      • Unrecovered costs
      • Excess cost recovery
    • PSC profit sharing
      • Base
      • Rate
      • Payment schedule
    • Additional petroleum taxes
      • Ring fencing
    • Export duty
      • Base
      • Rate
      • Payment schedule
    • Supplementary payment
      • Base
      • Rate
      • Payment schedule
    • Research contribution
      • Base
      • Rate
      • Payment schedule
    • Petroleum income tax
      • Ring fencing
      • Base
      • Rate
      • Payment schedule
    • Fiscal treatment of decommissioning costs
    • Product pricing
      • Liquids pricing
      • Natural gas pricing
    • Sample cash flow
    • Active legacy terms
    • Royalty
    • PSC production sharing
      • Ring fencing
    • PSC cost recovery
      • Base
      • Rate (cost recovery ceiling)
    • PSC profit sharing
    • Supplementary payment
      • Base price assumptions
    • Historical background
    • Pre-1980
    • 1980s
    • 1990s
    • 2000s
    • 2010s
      • Marginal field fiscal incentives
      • Risk service contracts

Tables and charts

This report includes 49 images and tables including:

  • Gas Production
  • Liquids Production
  • Key facts: Table 1
  • Country Map
  • Liquids and Gas Production 2024
  • Reserves and contingent resources at 01/01/2024
  • Oil, Other Liquids and Gas Production and Reserves
  • Western Malaysian Basins Map
  • Eastern Malaysian Basins Map
  • Blocks Awarded
  • Active Blocks by Region
  • Liquid Reserves by Sector
  • Liquids Production
  • Production: Table 1
  • Production: Table 2
  • Peninsular Malaysia Gas Infrastructure Map
  • Infrastructure: Table 2
  • Fiscal terms
  • Fiscal terms: Table 2
  • Fiscal terms: Table 9
  • Fiscal terms: Table 10
  • Fiscal terms: Table 11
  • Fiscal terms
  • Fiscal terms: Table 15
  • Fiscal terms: Table 16
  • Fiscal terms: Table 17
  • Fiscal terms: Table 18
  • Drilling Activity by Well Type
  • Technical and Commercial Success Rates
  • Gas Reserves by Sector
  • Reserves and resources: Table 1
  • Gas Production
  • Production: Table 3
  • Production: Table 4
  • Peninsular Malaysia Oil Infrastructure Map
  • Sarawak and Sabah Oil Infrastructure Map
  • Infrastructure: Table 1
  • Sabah and Sarawak Gas Infrastructure Map
  • Costs: Table 1
  • Costs: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7
  • Summary of modelled terms
  • Fiscal terms: Table 13
  • Fiscal terms: Table 14
  • Fiscal terms: Table 19

What's included

This report contains:

  • Document

    Country Overview

    PDF 31.22 MB

  • Document

    Country Overview

    XLS 1.43 MB