Petroliam Nasional (Petronas) is seeking to invest $5 billion with partners to develop natural gas fields off the nation’s eastern coast, Bloomberg reports. The move will help the Malaysian oil and gas company replenish the country’s decreasing energy reserves. The North Malay Basin project intends to extract gas from nine discovered fields to help meet rising demand on Peninsular Malaysia. The investment will be accepted on an accelerated basis, with the first delivery expected by early 2013.
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