Malaysia Will Offer Tax Breaks to Spur Oil Exploration

Malaysia, Southeast Asia’s second- largest oil and gas producer, will offer tax incentives to encourage the exploration of less-profitable fields to boost revenue and extend the life of the country’s petroleum reserves.
The nation wants to attract oil and gas companies including state-owned Petroliam Nasional Bhd., or Petronas, to explore “marginal” fields, Second Finance Minister Ahmad Husni Hanadzlah said in an interview with Bloomberg yesterday. High exploration costs make some areas economically unviable.
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Source: Bloomberg