ger-term we view a broadly mature exploration profile to fail to incentivize the investment level needed to sustain oil production (production from Kikeh is expected to peak in 2017). In our model, we see overall oil production in 2020 falling -50 mboe/d from 2015 levels. Figure 101 Malaysia Product

Oils Pr !Mary Growth Driver; Near-term volume growth will be driven by recent discoveries off Sabah which have extended the eventual drop-off from Kikeh to 2017. In the near-term (2014-2017) we anticipate oil production to increase 9% by 2017 to 670mboe/d driven exclusively by the deepwater fields o