PETRONAS-run operation will secure Malaysia’s gas supply
KUALA LUMPUR: PETRONAS will begin exploration and drilling work in one of the world’s largest gas fields in December, thereby securing Malaysia’s gas resources, says Datuk Seri Anwar Ibrahim.
He said Turkmenistan has guaranteed and provided access to one of their gas fields for Malaysia to manage.
According to a statement by PETRONAS on Monday, Anwar said exploration and drilling activities in what he believes are the largest gas blocks, Blocks 9 and 10, are expected to begin this December.
“This is among the fastest developments that have ever taken place. Normally, the expectation is between one-and-a-half to two years before operations can begin,” the Prime Minister told the Dewan Rakyat yesterday.
With this development, Anwar said Malaysia was set to become a country with among the largest gas resources in the world.
He said Malaysia would ensure that it has diverse supply channels, adding that the country has also finalised a deal with Russia for long-term diesel supplies.
PETRONAS Carigali (Turkmenistan) Sdn Bhd said in June that it had entered into new agreements with State Concern Turkmennebit and State Enterprise Hazarnebit, which will deepen its presence in the Caspian Sea and expand its upstream portfolio in the country.
Anwar also said that he has fulfilled his pledge to keep fuel prices in Malaysia lower than those in Saudi Arabia.
“We should not compare Malaysia with countries that are not oil producers and therefore have much higher fuel prices. We should compare ourselves with Qatar and Saudi Arabia.
“When we previously called for petrol (prices) to be reduced to RM1.50, the price in Saudi Arabia was around RM0.50. Today, our price is around RM1.99, while the price in Saudi Arabia is more than RM2.40.
“Qatar, and even the United Arab Emirates (UAE), raised fuel prices two months ago. The UAE is also a major producer of oil and gas.
“This reflects changing economic realities. Therefore, I once promised Malaysia’s fuel prices would be lower than those in Saudi Arabia. It has been fulfilled,” he added.
Anwar was responding to Hulu Terengganu MP Datuk Rosol Wahid, who called him out on his remarks about oil prices prior to becoming Prime Minister and compared the current situation to Datuk Seri Najib Razak’s time as prime minister.
Anwar also said Malaysia would focus on supporting micro, small and medium enterprises (MSMEs) in the states bordering Thailand.
He added this would ensure MSMEs could benefit from the increased trade with Thailand following the opening of a new border checkpoint on July 11.
