The formation of Petronas, Malaysia's national petroleum corporation, in 1974 preceded the transformation of the country's oil and gas industry. Petronas has grown into a fully integrated entity engaged in the full spectrum of the oil and gas industry. The corporation is ranked among the largest and most profitable oil and gas companies in the world, and its operations span more than 30 countries.
In tandem with the transformation of the company, the exploration activities in Malaysia also underwent significant changes.
Evolution of Malaysia's PSC
Malaysia introduced its production-sharing contract...