Petronas’ Turkmenistan, Russia Deals Reflect Strong Diplomatic Ties, Global Credibility - Analyst
KUALA LUMPUR, June 21 (Bernama) -- Petroliam Nasional Bhd’s (Petronas) latest energy agreements in Turkmenistan and Russia underscore both Malaysia’s strong diplomatic relations with the two countries and the national oil company’s long-established reputation as a trusted global energy player, an analyst said.
Malaysian geostrategist and Senior Fellow at the Nusantara Academy for Strategic Research (NASR) Dr Azmi Hassan said while government-to-government ties played an important role in facilitating the agreements, Petronas’ credibility and track record were equally crucial in securing opportunities in the global oil and gas industry.
“Securing opportunities in a foreign country’s upstream sector is never a small feat, especially in a highly strategic and competitive industry like oil and gas,” he said in a statement today.
On Saturday, Petronas, through its wholly owned subsidiary Petronas Carigali (Turkmenistan) Sdn Bhd, signed several new agreements to strengthen long-term strategic cooperation with the country.
Among the new agreements are collaborations with State Concern Turkmennebit and State Enterprise Hazarnebit to strengthen its presence in the Caspian Sea and expand its upstream portfolio in the country.
Similarly, Malaysia’s longstanding relationship with Russia helped pave the way for cooperation between Petronas and Rosneft, he said.
“These partnerships do not emerge overnight; they are built on years of diplomatic engagement, commercial trust and mutual confidence.
“Together, they demonstrate how strong international relationships, backed by a world-class national oil company, can open doors for Malaysia on the global energy stage,” he said.
-- BERNAMA