Kasawari project outlook seen improving

Bottom line intact: Wan Zulkiflee said Petronas’ financials were intact, despite suffering from lower earnings due to the oil price collapse.

PETALING JAYA: The potential sale of equity in the Sarawakian oil field by Petroliam Nasional Bhd (Petronas) improves the outlook for the delayed Kasawari gas project, and thus, the long-term outlook for gas production and liquefied natural gas exports for Malaysia, said BMI Research.

The research house, which is a unit of Fitch Group, said the bulk of the funds generated from the stake sale in the SK316 offshore gas block is expected to be used to support further development phases at the Kasawari field.