PEETALING JAYA: Petroliam Nasional Bhd (PETRONAS) has clarified that it is still in discussions with Petroleum Sarawak Bhd (Petros) on the proposed implementation of the Distribution of Gas Ordinance.
“The ongoing discussions aim to align the interests and objectives of all parties while preserving the sanctity of existing contractual arrangements and ensuring that commitments to investors as well as customers can continue to be fulfilled,” it said in a statement yesterday.
Meanwhile in Kuching, Petros chairman Tan Sri Hamid Bugo said the Sarawak government-owned oil and gas company would be allocating about RM40bil over the next five years for its capital expenditure, Bernama reported.
He added that the company registered a total revenue of RM4bil last year and this figure is projected to grow over the next few years.
“Petros is now participating in 19 production-sharing contracts in collaboration with major oil players from several countries. Predictably this will also grow,” he said when speaking at the Petros seventh anniversary dinner here.
Also present was Sarawak Premier Tan Sri Abang Johari Tun Openg.
Hamid said since its launch on Aug 7, 2017, Petros has grown as an integrated player, actively participating throughout the oil and gas value chain, streamlining efforts to power social economic development in Sarawak.
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