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Country Report

Malaysia upstream summary

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09 January 2023

Malaysia upstream summary

Report summary

Malaysia is the second-largest oil and gas producer in Southeast Asia, but within the next few years will overtake Indonesia to become the region's largest. PETRONAS dominates the corporate landscape.

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 onwards
      • 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 2022
  • Reserves and contingent resources at 01/01/2023
  • 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 31.11 MB

  • Document

    Country Overview

    XLS 787.50 KB