Speaking to reporters in the Malaysian capital after opening a two-day Asia Oil and Gas Conference, Najib said, “We hope that there is a resolution soon. The sooner the better but such matters are ‘delicate’ that require very intensive discussion between the two related parties.”

The contested area, involving Block J, represents about half of Brunei’s entire offshore territory and it is vital to its plans to diversify its oil-dependent economy, reported AFP.

Najib urged oil-producing countries in Asia to discuss how to obtain secure and reliable energy at reasonable cost.

The deputy prime minister also told reporters that Malaysia has no plans to join some Asian countries, which are urging for a large oil stockpile to boost energy security. Najib said, “We do not have a massive supply. It costs a lot of money and we do not think we have immediate plans to do that.”

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