PETRONAS Sets Sights on Two Million Boe/d Oil Production Through 2028

PETRONAS has announced plans to maintain oil production at two million barrels of oil equivalent per day (mmboe/d) through 2028. According to Tan Sri Tengku Muhammad Taufik Tengku Aziz, the president and group chief executive officer, this target will be achieved through continued investment in exploration, deep-water development, and enhanced recovery from PETRONAS' producing fields.

The company has been working on finding new ways to collaborate with partners, as opposed to relying solely on traditional methods. Tengku Aziz cited the example of Searah Ltd, a regional venture with Eni, which combines leadership, capital, technical expertise, and risk-taking to pursue opportunities that neither partner could achieve alone.