KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will continue to work with the Sarawak state government to develop its oil and gas resources, said president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz today.
He said the national oil firm is keen to develop fields beyond the commercial settlement agreement executed on Dec 7, 2020, which also addressed areas around upstream participation.
“We wish to emphasise again as we work (on) the five discoveries off Sarawak. We recognise the prolific nature of the reserves there and we make the commitment to work with the state government to grow that pie,” he told reporters after announcing the group’s first half of 2023 financial performance ended June 30, 2023.
Tengku Muhammad Taufik was responding to a question on a statement by Sarawak Premier Tan Sri Abang Johari Tun Openg recently.
Abang Johari had earlier called on global energy and petrochemicals company Shell to be Sarawak’s partner to develop its oil and gas resources including carbon capture and storage (CCS).
The Premier added that Shell had a long history in Sarawak’s oil and gas industry and played a significant role in its economic development since oil was first drilled in 1910 in Miri.
Tengku Muhammad Taufik said engagements have continued and Petronas has a Sarawak state representative on its board.
“We are committed to Sarawak. We continue to discharge our responsibilities within the PDA 1974 (Petroleum Development Act 1974). Our task and obligation as an institution, under the law, is to make sure we value add every molecule and we will do so,” he added. – Bernama
Source : The Star