Government allocates RM146 mln to support oil, gas and energy industry

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KUALA LUMPUR: The government will allocate RM146 million to support the oil, gas and energy industry, says Prime Minister Datuk Seri Najib Tun Razak.

“The oil, gas and energy industry is one of the main contributors to the economy.

In 2009, the industry contributed 10.2 per cent to the gross domestic product with export revenue amounting to RM56 billion.

“This industry has the potential to expand, particularly in downstream activities,” he said in his Budget 2011 speech at Parliament House here today.

Najib said among the projects to be implemented include the establishment of the Oil Field Services and Equipment Centre in Johor with a private investment of RM6 billion over a period of 10 years.

To meet the increase in gas demand by industry, he said Petronas would implement a regasifaction project with an investment of RM3 billion in Melaka, which will be operational in 2012. — Bernama