3rd January 2022

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.

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