KUALA LUMPUR, March 15 (Xinhua) -- Malaysia's crude oil and condensate production rose 0.9 percent year-on-year to 49.1 million barrels in the fourth quarter of 2023, official data showed Friday.
The Department of Statistics Malaysia said in a statement that the increase was backed by a surge of 23.8 percent in condensate.
Crude oil accounted for 70.4 percent or equivalent to 34.6 million barrels of the total production.
Condensate, on the other hand, comprised 29.6 percent, or 14.5 million barrels.
Meanwhile, natural gas production rebounded 4.7 percent to 774.2 billion cubic feet in the quarter.
In comparison with the previous quarter, the production of crude oil and condensate rose by 7 percent.
As for the full year of 2023, the production of crude oil and condensate declined slightly by 0.1 percent to 188.8 million barrels.
The decline in annual production was primarily due to a decrease of 6.1 percent in crude oil production, which had been trending downward since 2017.
On the other hand, condensate production accelerated at a faster pace of 19.5 percent, thus offsetting the decline in crude oil during the year.
In terms of composition, crude oil encompassed 72 percent or 136.0 million barrels, while 28 percent contributed by the condensate, amounting to 52.8 million barrels.
In the meantime, the production of natural gas dropped marginally by 0.03 percent to 2,862.0 billion cubic feet in 2023. ■
