KUALA LUMPUR: The full details, parameters, and legal implications of the collaboration between Petroliam Nasional Bhd (PETRONAS), the Federal Government, and Sarawak’s state-owned Petros are still being refined, says Datuk Seri Azalina Othman Said.
The Minister in the Prime Minister’s Department (Law and Institutional Reform) stated that the Prime Minister and the Premier of Sarawak had reached a policy-level agreement concerning PETRONAS and Petros.
"Any commercial terms between PETRONAS and Petros must take into account, among other factors, PETRONAS’ investments in field development and the gas supply chain, as well as any potential future investments by Petros," she said in a written reply to a question from Fong Kui Lun (PH-Bukit Bintang).
Fong had asked the Prime Minister to clarify the impact of the agreement between PETRONAS and Petros on PETRONAS’ overall revenue, including its dividend contributions to the Federal Government.
Azalina said that the estimated impact on the revenue requirements of both the Federal and Sarawak governments, as stipulated under federal law, had yet to be determined.
"This is because it depends on the commercial terms and implementation mechanisms, which are still under negotiation and have not been finalised.
"All parties involved are committed to ensuring that commercial decisions made will safeguard interests and not compromise the country’s economic stability," she added.
On Jan 14, Prime Minister Datuk Seri Anwar Ibrahim announced that issues between PETRONAS and Petros had been resolved following his meeting with Sarawak Premier Tan Sri Abang Johari Openg.
