Exploration Companies in Malaysia

Exploration companies in Malaysia are responsible for the country's oil and gas exploration and production activities. The Malaysian government is the sole owner of the nation's oil and gas resources, and exploration and production activities are conducted under the auspices of the national oil company, PETRONAS.

Exploration and production activities in Malaysia are governed by the Petroleum Development Act of 1974, which gives PETRONAS the exclusive right to exploit the country's oil and gas resources. The act also establishes a regulatory framework for the exploration and production of oil and gas, and provides for the sharing of profits between the government and PETRONAS.

In recent years, the Malaysian government has been encouraging foreign oil and gas companies to participate in the country's exploration and production activities, in an effort to boost investment and increase production. A number of foreign companies have been awarded exploration and production licenses, and several major international oil companies have established joint ventures with PETRONAS.