AFX Europe (Focus): Shell Malaysia expects active investment in exploration/production – report: “Shell Malaysia is seeking more exploration and production (E&P) projects as well as profitable downstream opportunities, the Star newspaper reported, quoting the company's chairman Jon Chadwick.”: Monday December 2005
KUALA LUMPUR (AFX) - Shell Malaysia is seeking more exploration and production (E&P) projects as well as profitable downstream opportunities, the Star newspaper reported, quoting the company's chairman Jon Chadwick.
"That is what will be driving us in the years to come," he added.
Chadwick said that the E&P business is growing and investment levels remain very robust.
"We are not sitting on our laurels; we have been here for 114 years and we are investing at record levels," he added.
He said that Shell has been investing about eight mln rgt in capital every day in Malaysia this year, of which most are into E&P activity. "I think our investment level will be sustained at the very least till next year," he said.
He added that the company plans to invest at least 12 bln rgt in the country from 2003 to 2007.
(1 usd = 3.77 rgt)
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