POSITION PAPER ON HYDROGEN ECONOMY
Oil Malaysia is the third-largest holder of oil reserves in Southeast Asia after Indonesia and Vietnam (Figure 15). It is also the third-largest oil producer in Southeast Asia after Indonesia and Vietnam (Figure 16 & 17). Malaysia exports crude oil mostly to the Asia Pacific region, namely Australia, India, Thailand, and Japan (U.S. EIA 2017). Rapid rise in demands for crude oil and oil products in regional and domestic markets and gradual production decline at major producing oil fields for the last decade have forced Malaysia to take the following steps (Figure 18): • Investing in enhanced oil recovery and deep water marginal discoveries ›
Tapis EOR project off Terengganu in a 25-year production-sharing since 2010
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Baram Delta and North Sabah EOR off Sarawak and Sabah since 2011
• Increasing the capacity of oil refining and storage in preparation to become the region’s oil trading and storage hub ›
Pengerang Integrated Complex (PIC) in Pengerang Johor and Refinery and Petrochemical Integrated Development (RAPID) to start-up in 2019
• Enhancing oil exploration in existing deep water areas by investing in new major upstream and downstream oil projects ›
Kikeh, Kakap and Malikel off Sabah deep water oil field
Figure 15: ASEAN Fossil Oil Reserve 2017 (Mtoe) Source: ASEAN Power Cooperation Report 2017
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