"Arising from these discoveries, we anticipate there will be several billion ringgit worth of installation contracts to be awarded in the coming months," said B.I.G. chairman Datuk Mazelan Bugo. Bugo believes, "This development offers opportunities for companies supporting the oil, gas and petrochemical industries like B.I.G."

B.I.G. executive director Wong Choon Seng shares Bugo's views. Furthermore, Wong believes that the discovery in the Kikeh filed would be beneficial to Malaysia's steadily declining oil reserves.

"The size of the discovery is large enough to reverse the country's declining oil reserves this year," said Wong.

The deepwater oil fields in Kikeh are estimated to have recoverable reserve of between 400 million and 700 million barrels.