Exxon Mobil will reopen abandoned oil wells in Terengganu waters to take advantage of the escalating crude oil price in the world market for investment value of US$2.3 billion under production sharing contract with Petronas renewal.
Reopen of the old oil wells will explore deeper in search for oil at a much higher investment cost which only become feasible at current oil price.
Reopen of the old oil wells will explore deeper in search for oil at a much higher investment cost which only become feasible at current oil price.
Deeper search? Just make sure it doesn't kills the sea. And it's another non local company getting our oil. Sigh... just make sure you lower the petrol price if you wanted to get our oil.
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