KUALA LUMPUR, Malaysia, Dec. 6 (UPI) -- Malaysia's state-run Petronas said it will focus on deepwater drilling.
The company said it will explore recent deepwater finds as part of a plan to sustain production levels and increase its resource base, China's Xinhua news agency reported.
With recent oil and gas discoveries, especially in eastern states of Sabah and Sarawak, the company is focusing on deepwater activities, said Mohd Zamri Jusoh, Petronas senior manager for research development at Petronas Management Unit.
"We are now shifting our development focus to this operation in deepwater fields," Jusoh said.
The company said it is also still seriously focusing on revitalizing brown fields throughout the country to sustain production and increase its oil and gas reserves. Brown fields refer to an oil and gas accumulation that has matured to a production plateau or progressed to a stage of declining production.
"We have embarked on more than 90 projects, doing full review and further development program to sustain production level as well as increasing resource base," Jusoh said. "What is happening in the industry at the moment is that because of the high oil price, a lot of projects deemed uneconomic have become very attractive."
