Malaysia’s current oil reserves are estimated at approximately 3 Billion barrels as of January 2007 (1996: 4.6 billion barrel) with a declining tendency, due to the lack of major new oil discoveries in the last years.
Average production for 2006 stood at 798,000 barrels per day (oil reserve fully depleted in 10 years time). In 2006, Malaysia consumed an estimated 515,000 barrels per day of oil, with net export of 283,000 barrels per day.
Malaysia's natural gas production has been rising steadily in recent years. In 2000 Malaysia accounted for approximately 15% of total liquefied natural gas exports and is estimated to contain a 75 trillion cubic feet natural gas resort.
Main Production occurs in the lower part of the Gulf of Thailand in the Malaysia-Thailand Joint Development Area (JDA) managed by the Malaysia-Thailand Joint Authority (MTJA).
