PETRONAS has released its 2025-2027 Activity Outlook, emphasising the importance of greater synergy within the Oil and Gas Services and Equipment (OGSE) ecosystem. The report focuses on innovation, sustainability, human capital development, and financial resilience to sustain a robust ecosystem while supporting Malaysia’s net-zero journey.

The report, which shares insights and forecasted activities covering Upstream, Downstream, Gas and Maritime as well as the introduction of its clean energy solutions, outlines PETRONAS’ commitment to supporting national economic growth within the next three years by adapting swiftly to changing market demands, leveraging digital transformation to improve performance, safety, and sustainability, and fostering collaborations within the industry to develop vendor capabilities to advance new technologies.

PETRONAS Vice President of Group Procurement, Rashidah Alias, said, “PETRONAS aspires to see industry players thrive in supporting the broader Malaysian oil and gas industry and the nation’s journey of energy transition and energy security. By co-creating solutions and maintaining open communication, we can drive meaningful change and innovation”.

PETRONAS is committed to achieving its target of growing and sustaining Malaysia’s oil and gas production to two million barrels of oil equivalent per day (MMboe/d). Over the next three years, the outlook for Upstream development projects remains steady, from 56 development wells in 2024 to 69 development wells in 2025.

To ensure optimal production from producing fields and facilities, approximately 367 Facilities Improvement Plans (FIPs) are planned annually for the next three years. Decommissioning plans include the plugging and abandonment of approximately 153 wells, and the abandonment of about 37 offshore facilities and one onshore facility.

Upstream is also positioning carbon capture and storage (CCS) as a pivotal business, particularly the Kasawari project.

Downstream business is actively pursuing growth in specialty chemicals. Through a partnership, PETRONAS will be producing biofuels at a biorefinery, set to become operational by the second half of 2028.

The report stated that PETRONAS’ ongoing capital expenditure investment is vital to ensure supply security by boosting exploration in new and mature areas, accelerating appraisal programmes and replenishing resources to sustain production targets with lower costs and emissions.

About Petronas

Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably.

As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.

Ensuring sustainable practices across our operations is important to how we conduct our business. Our goal is to achieve net zero carbon emissions by 2050, and we strive to be a valuable partner to our stakeholders in transitioning to a lower carbon energy future in a just and responsible manner.