The Rising Influence of Rising Affluence

[DewDiligence]

Petronas, Shell ink $12B enhanced-recovery deal for Malaysian oilfields:

http://online.wsj.com/article/SB10001424052970204224604577031131438906276.html

Petronas said it signed a deal with Shell for two 30-year production-sharing contracts under which the companies will employ enhanced oil recovery methods at oilfields offshore Sarawak and Sabah states in East Malaysia. They will also develop nine oil fields in the Baram Delta offshore Sarawak and four in the North Sabah development area.

The two projects together may yield an additional 90,000 barrels to 100,000 barrels a day and could be the largest offshore enhanced oil recovery development in the world.