EFTA Document EFTA01367372

31 May 2015 Integrated Oil US Integrated Oils Malaysia Similar to the broader group of countries, near-term oil production growth in Malaysia will be driven by high levels of recent development activity amidst higher oil prices. Key to the near-term oil growth will be the contribution from recent deepwater discoveries off Sabah. In the longer-term we view a broadly mature exploration profile to fail to incentivize the investment level needed to sustain oil production (production from Ki