PETRONAS Strengthens Strategic Partnerships And State Participation To Sustain Domestic Energy Value

KUALA LUMPUR, June 10 (Bernama) -- PETRONAS, through its wholly owned subsidiary, PETRONAS Carigali Sdn Bhd, has entered into several agreements involving selected producing upstream assets in Peninsular Malaysia and Sarawak, reinforcing its commitment to sustaining long-term value creation for Malaysia by further leveraging on a partnership-led approach. The agreements form part of PETRONAS’ broader portfolio optimisation efforts to develop upstream assets responsibly and sustainably, in support of Malaysia’s long-term energy security and industry development.

As part of this approach, EnQuest Petroleum Production Malaysia Ltd is to assume operatorship and participating interests (PI) in the Balingian PSC, SK8 PSC and D35 PSC, while also participating as a nonoperating partner in the PM6/12 PSC. The company is envisaged to leverage its Group’s integrated technical capabilities and experience in managing brownfield and late-life assets to support the continued operations and redevelopment of these producing assets.