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Shell Malaysia To Invest Big On Offshore Sabah

 

 

BERNAMA.COM: Business


May 13, 2008 18:49 PM  

Shell Malaysia To Invest Big On Offshore Sabah

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MIRI, May 13 (Bernama) — Shell Malaysia Exploration and Production (SMEP) says it is ready to invest a substantial amount for their exploration and production activities particularly in the development of oil wells in deepwater offshore Sabah.

Without specifying the investment amount, its managing director, Wee Yiaw Hin, said that the investment would definitely be in the region of billions of ringgit as deep sea operations involved high technology as well as big cost.

There would also be new facilities to be built at the company’s Labuan terminal to cater for the deep water exploration, he said at a briefing for the office bearers of the Northern Sarawak Journalists’ Association (NSJA) at Sarawak Shell Bhd’s office in Lutong, about 10 km from here.

He said SMEP had embarked on oil well exploration in sea depths of more than 1,000 metres in Sabah in 2000 and had discovered about 11 wells under the seabed since then.

On another note, Wee said that although the company had strived to ensure that more Malaysian skilled workers are involved in their operations, there was a challenge in getting the people with the right qualification to join them.

According to him, the number of Malaysians with suitable qualifications such as in geology was still insufficient to meet the need of the oil and gas industry and SMEP was now looking into ways to address the situation.

A total of 2,511 workers are engaged by SMEP where 2,091 are Malaysians and another 420 expatriates from 36 other countries.

— BERNAMA

http://www.bernama.com.my/bernama/v3/news_business.php?id=332715

 

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