Shell Malaysia announced on Monday that it - together with partners Petronas Carigali and ConocoPhillips - have struck oil at its Block J Gumusut-1 well off the coast of Sabah.

According to an industry analyst, who declined to be named, "We are happy with the news of the find as it will provide job opportunities for Malaysian oil and gas companies."

"When the operators of the field start producing oil, then the other supporting Malaysian oil and gas players can join in the lucrative oil field," added the industry forecaster.

This view is shared by MIDF Sisma Securities senior analyst Kaladher Govindan. According to Govindan, "Companies involved in the early stage of exploration and development such as Crest Petroleum Bhd, Scomi Group Bhd, Trenergy Bhd and smaller players like Kejuruteraan Samudra Timur could benefit from Shell's find."