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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (1939)	12/11/2000 8:59:35 AM
From: Tomas	of 2742

Malaysian Crude Oil Reserve To Last Till 2008 Asia Pulse; December 8 KUALA LUMPUR, Dec 8 Asia Pulse - Malaysia's crude oil reserve can last till 2008 if no new fields are found by then, a government official said. Hisham Ismail, parliamentary secretary to the Ministry of Finance, said "Crude oil reserves are depleting, from 4.1 billion barrels in 1995 to 3.42 billion barrels this year. If the current average daily output of 615,000 barrels are taken into account, the oil reserves can only last up to 2008," he told the senate when winding up the debate on a supplementary bill Thursday. To cope with the situation, Hashim said the government had taken several measures, including stepping up studies on the utilisation of renewable energy sources such as solar energy and mini-hydros. The national oil corporation Petronas had also taken measures to develop deepsea oil fields and invest in countries like Angola, Pakistan, Sudan and Vietnam, he added. (Bernama)

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