South China Sea: What’s at stake?
October 2014 STATISTICS
With the discovery of oil in Sarawak in 1910, the foundation of Malaysia’s oil and gas industry was laid and changed its economy forever. Mainly located in the South China Sea, a major part of Malaysia’s GDP is generated from the oil and gas sector in this strategically important region. According to the Malaysia Petroleum Resources Corporation (MPRC), Malaysia has some 28.35 billion barrels of oil reserves and about 1.2 % of the world’s natural gas (2.35 trillion cubic metres)...
