Sarawak going for offshore oil, gas

THE Malaysian state of Sarawak wants to establish its own offshore oil and gas exploration company.
Sarawak going for offshore oil, gas Sarawak going for offshore oil, gas Sarawak going for offshore oil, gas Sarawak going for offshore oil, gas Sarawak going for offshore oil, gas

Chief Minister Datuk Amar Abang Johari Tun Openg

Staff Reporter

Chief Minister Datuk Amar Abang Johari Tun Openg said he had discussed the option with state oiler Petronas, which was "very receptive to the idea of the state-owned company partaking in upstream and downstream oil and gas exploration activities".
 
Sarawak wants to participate in both upstream and downstream oil and gas activities, with its first venture likely to be joining Petronas in the South China Sea.
 
The state has also suspended a plan to increase royalties from 5% to 20% until oil prices recover.  

 

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