KUCHING, Malaysia – Petronas has signed two agreements relating to upstream investments in Malaysia.
One is a memorandum of understanding with Petroleum Sarawak Berhad (PETROS) concerning a staggered increase of gas supplies to Sarawak, ultimately raising the allocation to 1.2 bcf/d.
This should support the state’s aspirations to attract investments from new industries, Petronas said, also providing impetus for further upstream exploration.
A commercial collaboration agreement with the Sabah State Government should lead to strengthened collaboration in developing Sabah’s oil and gas industry.
Sabah’s nominated state-owned entity will be given the opportunity to increase its participation in upstream petroleum arrangements, including in partnership with PETRONAS Carigali.
The parties plan to establish a consultative framework for jointly engagement in issues of importance to the industry.