KUCHING: Following the signing of a commercial settlement agreement between Sarawak and Petronas, a framework will be established that will see the state become more actively involved in onshore oil and gas production activities through Petroleum Sarawak Berhad (Petros), including developing the Sarawak Gas Master Plan.
Petronas president and group chief executive officer Tengku Muhammad Taufik Tengku Aziz said the framework will enable both parties to continue collaborating in upstream and downstream projects as well as in developing the Sarawak Gas Master Plan.
He said in addition, this would also encourage greater participation by Sarawak companies in the state’s energy sector.
“Today, we mark a new chapter with Sarawak. The partnership witnessed today reflects Petronas commitment to collaborate and support the state government in realising their ambition to be a more active player in its domestic oil and gas industry through Petros.
“Under this landmark Commercial Settlement Agreement, both Petronas and the state government have agreed to establish a consultative framework to enhance collaboration through a structured and formalised avenue comprising a Joint Coordination Committee (JCC) and an Annual Strategic Dialogue (ASD),” he said during the signing ceremony of the Commercial Settlement Agreement between the Sarawak government and Petronas at Hilton Hotel, Kuala Lumpur on Monday (Dec 7).
He said these platforms will be co-chaired between Chief Minister Datuk Patinggi Abang Johari Tun Openg and Petronas Board chairman Tan Sri Ahmad Nizam Salleh.
“As mentioned, the agreement will open new avenues for collaboration between Petronas and Petros which includes the development of the Sarawak Gas Masterplan and ongoing efforts to encourage more participation by Sarawakian vendors.
“In this stride, Petronas would hope that the expeditious granting of necessary licences and the processing of matters relating to land and immigration as well as other matters under that state’s jurisdiction would be facilitated to ensure that the state’s oil and gas industry continues to thrive,” he said.
He added the signing ceremony rightly encapsulates what is seen as the spirit of collaboration and shared commitment.
“I am deeply encouraged by our achievements over the years together with the Sarawak government.
“With the commercial settlement agreement in place, we look forward in continuing the momentum towards developing Sarawak’s energy sector for the long-term growth and prosperity of the state and the nation,” he said.
He said he believed there are many more opportunities and milestones to be achieved in Petronas’ long-standing relationship with Sarawak.
“Therefore, I am confident that this structured and progressive approach will augur well for both Sarawak and Petronas in ensuring that the energy sector remains a viable contributor to economic growth for the state and the nation,” he said.
