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: Petroliam Nasional Bhd (Petronas) has signed a binding heads of agreement (HoA) with Vietnam Oil and Gas Group (PetroVietnam) for the sales and purchase of additional gas from Block PM3 CAA, Malaysia, to Ca Mau Province, Vietnam.
The HoA, signed on March 15 in Ho Chi Minh, would further support the country’s plan to spur its economic growth in the south west region, said the national oil and gas company in a statement.
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