MALAYSIAN GOVT ALLOCATES US$47.31 MLN TO SUPPORT OIL, GAS AND ENERGY INDUSTRY

KUALA LUMPUR, Oct 15 (Bernama) -- The Malaysian government will allocate
RM146 million (US$47.31) (US$1=RM3.08) to support the oil, gas and energy
industry, says Prime Minister Najib Tun Razak.

"The oil, gas and energy industry is one of the main contributors to the
economy. In 2009, the industry contributed 10.2 per cent to the gross domestic
product with export revenue amounting to RM56 billion (US$18.14 billion).

"This industry has the potential to expand, particularly in downstream
activities," he said in his Budget 2011 speech at Parliament House here Friday.

Najib said among the projects to be implemented include the establishment of
the Oil Field Services and Equipment Centre in Johor with a private investment
of RM6 billion (US$1.94 billion) over a period of 10 years.

To meet the increase in gas demand by industry, he said Petronas would
implement a regasifaction project with an investment of RM3 billion (US$972.1
million) in Melaka, which will be operational in 2012.

-- BERNAMA