Petronas, Sabah state sign cooperation agreement
The government of the state of Sabah and Malaysian state-owned energy company Petronas have signed a commercial collaboration agreement to develop the oil and gas industry in the state, Petronas said on December 7.
The objectives of this agreement are to increase the revenue for Sabah from oil and gas production in the state by increasing its participation in the oil and gas industry and its value chain and to have greater involvement together with Petronas in the oil and gas development in the state, the state-owned company said.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The state of Sabah, through its nominated state-owned entity, will have the opportunity to increase its participation in upstream petroleum arrangements including in partnership with Petronas Carigali, the wholly-owned subsidiary of Petronas, as well as in the midstream and downstream oil and gas businesses within the state.