Kelantan withdraws oil royalty suit against Petronas

UOB Kay Hian Research analyst Kong Ho Meng said while there have not been any large tenders awarded by Petroliam Nasional Bhd (Petronas), it expected contracts to be rolled out from next year. In Malaysia, he said, about 11% or about 35 of the over 300 platforms have been operating for over 40 years, and more than 200 wells have already been identified to be plugged and abandoned.

KUALA LUMPUR: The suit brought by the Kelantan government against Petroliam Nasional Bhd (Petronas) for oil royalty claim nine years ago has finally been settled after the state government withdrew it.

The Kelantan government’s lawyer Aleeya Elyana Ahmad Mahreez told reporters this here yesterday after the matter came up for case management before High Court judge Justice Ahmad Bache in chambers; in the presence of federal counsel Siti Asmath Che Man, who acted for the Federal Government, a defendant in the case.