Malaysia's Petroleum & Natural Gas Sector Posts CAGR Of 12.5 Pct For 2010-2015
Last update: 10/07/2017
KUALA LUMPUR, July 10 (Bernama) -- Malaysia's petroleum and natural gas industry has registered a compound annual growth rate (CAGR) of 12.5 per cent from 2010 to 2015, with the number of establishments engaged in the industry rising to 157 from 87 over the period, said the Department of Statistics Malaysia (DoS).
In a statement today, it said the value of gross output amounted to RM120.4 billion compared with RM105.9 billion in 2010 (CAGR: 2.6 per cent).
"Extraction of crude petroleum and natural gas group recorded the largest value of RM108.9 billion, contributing 90.4 per cent, while support activities for petroleum and natural gas extraction group registered RM11.5 billion in 2015 (9.6 per cent)," it said.
The DoS said the total number of persons engaged increased to 41,698 from 32,701 persons in 2010 (CAGR: 5.0 per cent).
Salaries and wages paid by the industry in 2015 also increased to RM6.7 billion against RM3.8 billion in 2010 (CAGR: 11.7 per cent) with monthly average salaries and wages of RM13,310.
This statistics report on petroleum and natural gas industry includes group of extraction of crude petroleum and natural gas, as well as support activities for petroleum and natural gas extraction and were compiled from the Economic Census 2016 for the reference year 2015.