Revenues from oil and gas will account for a fifth (20 per cent) of Malaysia's total gross domestic product (GDP) by 2015, according the prime ministerial department's Economic Planning Unit.

Bernama reports that the tenth Malaysia Plan, released today (June 10th), states that the country is set to achieve growth across all sectors of the oil and gas industry, exploration and production will provide the lion's share of growth and total revenue.

The organisation stressed that Malaysia has invested heavily to establish strong upstream and downstream sectors, with technology and training among the key strengths of the industry.

However, the report stressed that this investment will need to continue over the next five years to ensure that maximum growth potential is achieved.

According to CIA figures, Malaysia is the 28th largest oil producer in the world and the third largest in the region after Indonesia and Thailand.

Estimates for 2008 put national production at 727,200 barrels per day.

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