Oil

Crude oil, is a fossil fuel from the remains of ancient marine organisms transformed into carbon-rich substances as materials for fuel and a wide variety of products. Crude oil is usually black or dark brown, but can also be yellowish, reddish, tan, or even greenish. Variations in colour indicate the distinct chemical compositions of different supplies of crude oil.

History

History

1910
Discovery

Discovery of Malaysia's First Oil Well

1910
Shell discovers Malaysia's first oil well, Miri No. 1, on Canada Hill in Miri, Sarawak.
1910 (December)
Miri No. 1 begins production, yielding 83 barrels per day.
1929 - 1945
Peak Production

Peak Production at Miri Field

1929
Production at Miri field peaks at 15,000 barrels per day.
WW2 Era
Miri field experiences damage and decline due to scorched earth policies and bombings.
1950s - 1960s
Expansion

Expansion of Activities in Borneo

1950s
No drilling activities occur elsewhere in Borneo or Malaya.
1960s
Petroleum activities expand in Borneo with the discovery and development of offshore fields. Shell, followed by Esso, dominates upstream production, downstream refining, and sales.
Late 1960s
Foreign petroleum companies explore offshore Peninsular Malaysia and Esso and Conoco receive concessions for oil and gas exploration off the east coast of the Peninsular.
1974 - Current
Establishment & Authority

Establishment & Authority of PETRONAS

1974

Due to the various influential economic and political factors, alongside the rise of economic nationalism in Malaysia leading to the implementation of the New Economic Policy (NEP), PETRONAS was established in 1974 under the Petroleum Development Act 1974 (PDA 1974).

 

In accordance with the Petroleum Development Act 1974 (PDA 1974), Malaysia maintains complete authority and control over all petroleum resources within its territory and possesses the ability to enforce its jurisdiction.

Heading Example

Heading Example

Heading Example

Heading Example

Policy & Act

Policy & Act

Acts

 -> Petroleum Development Act 1974

This act grants PETRONAS exclusive rights to explore, develop, and refine oil and gas resources. It empowers PETRONAS to act as a responsible steward, ensuring efficient and sustainable development of this national treasure.

Policy

 -> National Petroleum Policy 1975

Promotes efficient resource utilisation, majority control by the nation, and fair distribution of benefits, creating a win-win situation for Malaysia and its people.

Framework

Framework

Ministry of Economy

Formulate comprehensive national policies for the energy sector, including oil and gas, by devising sustainable strategies and initiatives within the Five Year Development Plan to promote the development and modernization of the national oil and gas industry.

PETRONAS

PETRONAS, founded in 1974, serves as Malaysia’s state-owned oil corporation. Endowed with full authority over the nation’s petroleum assets and responsible for managing the exploration, advancement, and extraction of oil and gas reservoirs within Malaysia.

Oil Companies and Operators

There are other companies involved in the natural gas industry in Malaysia, including international oil and gas companies, independent gas producers, and gas distribution companies. These companies participate in various aspects of the natural gas value chain, from exploration and production to transportation and distribution.

Supply Chain

Supply Chain


Oil Refineries Map

Oil Refineries Map





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