Petronas has the highest net entitlement crude oil, condensate and natural gas production in Malaysia. Credit: Tang Yan Song via Shutterstock.

Petronas has highlighted its successful international exploration and appraisal activities undertaken in the first half (H1) of 2024. 

According to the state-owned Malaysian company, its home country has yielded promising results with the Bekok Deep-1 oil and gas discovery made in May. Well testing demonstrated a strong hydrocarbon flow rate.  

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Petronas believes that the hydrogen potential in Bekok Deep-1 marks a “significant milestone” in the growth of Peninsular Malaysia’s energy sector. 

As of 2024, Petronas has the highest net entitlement crude oil, condensate and natural gas production in Malaysia, according to Offshore Technology’s parent company GlobalData.   

The company also spotlighted success at the Sloanea-2 appraisal well in Block 52 in Suriname, South America.  

Drilled in June, Block 52 has bolstered Petronas’ prospects in the Guyana-Suriname Basin. The company is currently assessing the feasibility of developing a stand-alone floating liquified natural gas project and an integrated development strategy for gas and oil extraction within Block 52.  

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A recent industry poll by GlobalData found that the Guyana-Suriname Basin is expected to be the largest growth engine for oil development globally, with more than 40 oilfields discovered so far.  

Petronas CEO and executive vice-president of upstream Mohd Jukris Abdul Wahab commented: “We are extremely pleased with these breakthroughs, which underscore Petronas’ ongoing initiatives to enhance our exploration endeavours in selected focus regions and strive for sustainable resource replenishment.” 

US-based natural gas company ExxonMobil recently revealed plans to transfer the operations of all assets under two production-sharing contracts in Malaysia to Petronas, subject to further agreements.  

In early July, Petronas expanded its international fleet with the addition of three carriers for the Shell-led LNG Canada terminal launch in Kitimat, British Columbia. 

On 7 August, the company announced its withdrawal from South Sudan following a two-year period of divestment initiatives.