Prime Minister, Tan Sri Muhyiddin Yassin (second right) and Sarawak Chief Minister, Datuk Patinggi Dr. Abang Abdul Rahman Zohari Tun Abang Openg (second left) witness the Signing Of The Commercial Settlement Agreement Between PETRONAS and Sarawak State Goverment represented by Presiden and CEO of PETRONAS, Tengku Muhammad Taufik (right) dan Sarawak state secretary Datuk Amar Jaul Samion (left).
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) and the Sarawak state government have signed a commercial settlement agreement on the issues involving the state’s sales tax and oil mining laws.
Petronas president and group chief executive officer Tengku Muhammad Taufik Tengku Aziz said the commercial settlement agreement would establish a framework between the national oil company and the state government that would see Sarawak becoming more actively involved in its onshore oil and gas activities through Petroleum Sarawak Bhd (Petros).
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