Presence, investment of major global companies ensure stability of nation's energy sector
KUALA LUMPUR: The presence and investment of major global companies, such as the leading United States oil company ConocoPhillips, are crucial in ensuring the stability and sustainability of the nation's energy sector, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also the finance minister, received a courtesy visit from ConocoPhillips chairman and chief executive officer, Ryan Lance, in Putrajaya today.
ConocoPhillips is involved in oil exploration, development and production activities globally, including in Malaysia.
'In this meeting, I emphasised that the MADANI government is committed to clear and investor-friendly policies to ensure the confidence of large companies such as ConocoPhillips to continue to make Malaysia a long-term investment destination.
'The presence and investment of major companies such as ConocoPhillips is important in ensuring the stability and sustainability of the country's energy. It is also able to stimulate economic growth and open up high-value job opportunities in the oil and energy sector,' said Anwar in a Facebook post today.
ConocoPhillips also stated their continued commitment to investments in Malaysia, including involvement in the Kebabangan Cluster Production Sharing Contract (KBBC PSC) in Sabah, which is operated through its subsidiary, ConocoPhillips Sabah Gas Ltd, with strategic partner Petronas.
Earlier, during a leadership dialogue session titled 'Gas and Liquefied Natural Gas (LNG): Investing for the Long Term' at the Energy Asia 2025 Conference in Kuala Lumpur, Lance said that ConocoPhillips is focusing its investment in Sabah while also strengthening its long-term commitment to Malaysia.
He added that the company is currently in discussions with Petronas regarding potential investment opportunities in the country.
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