Foreign parties eyeing local O&G companies, says MPRC

KUALA LUMPUR: Malaysia's oil and gas scene is attracting a lot of foreign interest, with many parties looking for opportunities here given the depreciating ringgit, Malaysia Petroleum Resources Corp (MPRC) said.
"Supplemented by the low ringgit, we look attractive...they are looking at buying smaller companies here," its executive director Dr Shahreen Zainooreen Madros told reporters at the launch of MPRC 100 today.
The oil and gas industry in the Asean region is still attracting foreign interest despite the drop in oil price, he added.
"Although oil prices have dropped globally, Asia, Asean in particular, is still a far more interesting market. Asean is the centre of emerging markets and the requirement for energy is still very big," Shahreen said.