In a statement Hassan said, “The increase in reserves is a result of new discoveries following continued investments in Malaysia’s upstream sector.”

“Natural gas reserves, however, declined to 87 trillion standard cubic feet from 89 trillion previously, but [are] still three times the size of crude oil and condensates reserves,” he added.

The Petronas chief also said Malaysia’s oil reserves are estimated to last another 18 years, with gas reserves estimated at 34 years.