Petronas future-proofs upstream portfolio with global push
Petronas aims to increase the share of revenue from its international upstream operations from 40% to over 60% within the next decade, says the firm’s executive vice-president and CEO of upstream Jukris Abdul Wahab.
“This is not about pulling back from Malaysia. It will always be our core investment base. But we want a balanced and resilient portfolio that can withstand changes in the global energy landscape.
“The aspiration is to expand our international business from what we have today,” he told an editors’ briefing yesterday.
He said the expansion would focus on the company’s “heartland” markets, which include Suriname, Turkmenistan, Abu Dhabi and Vietnam, as well as unconventional oil and gas resources that can be quickly scaled up or down.
While Malaysia remained a key investment destination, Jukris said a…
