Royal Dutch/Shell group said its Shell Malaysia unit would invest about $5.3 billion in oil and gas projects over the next five years.
Approximately half of the investment is earmarked for exploration with the remainder set aside for other business activities including refining and a gas-to-liquids project, according to Shell officials.
Shell Malaysia also has launched a new offshore company, Shell Treasury Malaysia (L) Ltd. in Labuan. The company is expected to engage in a number of zonal or regional treasury activities in Labuan as well as in the ASEAN region.
The new company will allow Shell to centralize debt funding within a single treasury and tax-efficient lending company for Shell Group's operations in Malaysia.
Shell also hopes the new company will engage in a number of treasury activities on behalf of other Shell companies in the region.
© 2000 Mena Report (www.menareport.com)