Petronas Spends $100 Mln To Improve Exploitation

Malaysian oil and gas company Petronas plans to expand its businesses in Indonesia by investing $100 million this year.

Petronas CEO Tan Sri Dato Sri Mohd Hasan Marican said the investment is to strengthen the company's upstream and downstream businesses here.

"The investment will be mostly used for oil and gas exploitation activities," he said.
At present, Petronas produces about 20,000 barrels of oil per day and 2,000 tons of liquefied packed gas from its eight concessions in Indonesia.