PENAMPANG – Canada based oil and gas company, Talisman Malaysia see a lot of potential for Sabah in the oil and gas industry.
It’s Human Resource and Service Officer Manager Johan Mokhtar said the company intended to expand their off-shores operation in Sabah.
“We call the project as Sabah Redevelopment Project. Our intention is to grow business and investments where we see there is a lot of potential in Sabah,” he said to reporters after officiating the ‘Safety Campaign for Schoolchildren’ one of Talisman Malaysia Corporate Social Responsibility (CSR) programme at SK Tombovo, here today.
Meanwhile, when ask on the current situation of oil and gas price policy in Malaysia; Johan said that the fall of price affected everyone.
“I think generally throughout the industry everyone have been affected with the fall of the oil prices.”
“However we are fortunate that our cost to produce is not so high that we still can run business,” he said.
Johan further explained that for some operators if the cost of oil production is USD80 per barrel and the price is USD60 per barrel; he said “they are in big trouble.”
“While we continue to run our platform to produce, projects that require more money like USD30 to USD40 million, those might be delay until oil price comes up,” he said.
Talisman Malaysia was awarded with Kinabalu field offshore Labuan after the operator-ship transferred from another oil and gas company in 2012. – SayangSabah