KUCHING: Shell today reaffirmed its confidence in Malaysia, noting that its businesses are not affected by developments at the Shell Refining Company (Federation of Malaya) Bhd (SRC).
This was in response to news reports not accurately reflecting Shell’s business operations in the country.
To note, refining overcapacity and margins globally have led the board of SRC to evaluate the long term sustainability of this business. SRC is a separate independent entity from Shell’s other operating units in Malaysia.
“Malaysia continues to be an important country for Shell. We are the leading retail fuels and lubricants provider in the country and continue to invest in growing these businesses in Malaysia,” the group said in a statement today.
“Shell also operates the Gumusut Kakap field, which is expected to contribute up to 25 per cent of the country’s oil production.”
The oil giant continues to play a role in developing Malaysia’s deep-water resources and deep-water service industry.
Shell is currently working on its second deep-water venture, the Malikai oil field, 100km offshore Sabah, Malaysia.
The Malikai development will be a 23,500 tonne Tension Leg Platform (TLP) production facility, the first of its kind to be fabricated and installed in Malaysia.
“Shell has been in Malaysia for over 120 years and we look forward to many more.”