00:00Petronas aims to increase the share of revenue from its international upstream operations
00:06from 40% to over 60% within the next decade, says the firm's executive vice president
00:12and CEO of Upstream, Jukris Abdullahab.
00:16He said the expansion would focus on the company's heartland markets, which include Suriname,
00:21Turkmenistan, Abu Dhabi, and Vietnam, as well as unconventional oil and gas resources that
00:26can be quickly scaled up or down.
00:29While Malaysia remained a key investment destination, Jukris said a broader international spread
00:34would help the company adapt to different market and regulatory environments.
00:39However, he said partnerships would remain important for sharing capital requirements
00:43and access to technology.
00:46Jukris added that players can't operate alone in the industry, as the best value often comes
00:51when partners bring different operating philosophies, technology, and market access.
00:55He also said the company is reviewing its upstream portfolio to ensure that assets meet set
01:01criteria for cost, emissions, and value, adding that it was prepared to take on more calculated
01:06risks to drive down costs.
01:08Donis Roger Rizzo, FMT.
Comments