Southeast Asia Looks To Increase Offshore Oil Production

Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries. The governments from both countries signed a unitisation agreement to develop the Gumusut-Kakap and Geronggong-Jagus East offshore oil fields. Development will be managed by Malaysian state-owned Petronas and Brunei’s National Unitisation Secretariat (NUS).  The agreement took place during Prime Minister Tan Sri Muhyiddin Yassin’s visit to Brunei. It is one of several…