Agreement signals new era in Sarawak O&G development, says SPECA

Agreement signals new era in Sarawak O&G development, says SPECA

07 Dec 2020

The commercial settlement agreement inked between the Sarawak and Petroliam Nasional Bhd (Petronas) earlier today signals a new beginning for the oil and gas (O&G) industry in the state, Sarawak Petroleum Contractors Association (SPECA) said.

SPECA president Datuk Rahman Lariwoo said the state government’s greater involvement in O&G exploration and production as per the agreement, should pave the way for more local companies in Sarawak to be involved in the industry’s development.

“With this agreement being signed, I hope our local oil and gas players will be given more opportunities to be involved in the oil and gas activities in the state. It signifies another important milestone for the state in claiming our rights as stipulated in the Malaysia Agreement 1963,” he told Bernama.

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He said the agreement also marked the beginning of active involvement by state-owned O&G company, Petroleum Sarawak Bhd (Petros) in the near future.

“With Petros playing its role as a state entity, the other players will be open to involvement in downstream and upstream O&G activities,” he added.

The agreement signed in Kuala Lumpur was witnessed by Prime Minister Tan Sri Muhyiddin Yassin and Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg.

Sarawak State Secretary Datuk Amar Jaul Samion represented the state government, while Petronas president and group chief executive officer Tengku Muhammad Taufik Tengku Aziz signed for his company.

Source: Bernama