UOB KayHian added that the sector has the capability to power the growth of the Malaysian economy. The company's numbers have shown that oil and gas has beaten out previous investment champions the electronics industry since 1999 and that it is a sector that is at "the highest level of entrepreneurial energy not felt since the pre-Asian crisis."
The company estimates that in the next five years $US10 billion to $US13.2 billion worth of contracts could be available, especially Prime Minister Mahathir's proposed new oil and gas consortium gets off the ground. UOB KayHian believes that $US5.3 billion will be spent on E&P contracts and another $US4.9 billion on pipelines.
