Sunday, March 21, 2010

PETRONAS finds big oilfield

Was blown mind off by the report on Petronas makes "big oil find".

It alleged that the discovery is the biggest oil field or oil well (not only) in this part of world but also in any part of the world. Which I intepret it as the period of plateau or peak production is in excess of million barrels (MMbbls) per day. My guess is based on the producution of the best-known giant oilfield, Ghawar in Saudi Arabia that is 5 MMbbls/day.

If the allegation is true, the company revenue will go up the a whole new level. In the scenario of oil price goes up to USD 100, the revenue is simply skyrocketed. The fact that PETRONAS pays a good cut of its revenue to the government, we're gonna be more properous than ever. So, this is the fact that we all Malaysian should celebrate about.

It said PETRONAS contributed about RM75 billion annually to the federal government, which is equivalent to about 42 per cent of the country's revenue. With this discovery ,we might be getting like RM100 billion or more. Hoping that the wealth is effectively managed for the goodness of the country and its people.



More info of Malaysia ogs industy.

4 comments:

Chemhoster said...

PETRONAS denies having found the giant oil field as claimed by the former PETRONAS Chairman, Tengku Razaleigh.

Link: http://thestar.com.my/news/story.asp?file=/2010/3/25/nation/5931813&sec=nation

Now, who should we trust??

Jim said...

lol last time we study pe they say already ma. its impossible because our geographical factor sucks. lol. or something. prolly dinosaurs are lazy didnt want to climb titiwangsa. lol.

Chemhoster said...

Well, from this we can c that the freedom of speech is being practised in the country.

haha...dinosours sucked...din want to drop by the country. sien lo...

Chemhoster said...

Well, from this we can c that the freedom of speech is being practised in the country.

haha...dinosours sucked...din want to drop by the country. sien lo...