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KUCHING: Petroliam Nasional Berhad (Petronas) Does Not Relinquish Exclusive Ownership of Sarawak's Oil and Gas Resources
In a strongly worded press release to maintain its claim to Sarawak's oil and gas resources, Petronas has declared to be the sole owner of petroleum resources in Malaysia. He also stated that he was the only regulator of the upstream sector of the country.
"In the future, Mr. Petronas has stated that he will closely monitor the situation, including seeking advice and guidance from the federal government, being the sole shareholder of Petronas." was issued in response to the July 1 press statement of the Prime Minister's Office on its intention to exercise its power under the relevant Sarawak laws relating to oil and gas activities in Sarawak.
All Companies, including their contractors, subcontractors and sellers in the oil and gas industry must apply for licenses from the Sarawak Government to operate in Sarawak as of July 1. They are required to do so under Sarawak. Ordinance (OMO) 1958, and other regulations.
The OMO states that all players in the oil and gas industry in Sarawak, including Petroliam Nasional Berhad (Petronas ), must Due legal and appropriate measures will be taken against those who do not comply with the Ordinance, and this should include the upstream activities carried out by Petronas.
The application for a permit must be made in a form prescribed in OMO and submitted to Sarawak Minerals and Management Authority (SMMA) by Petroleum Sarawak Bhd (Petros).
The head of government Datuk Patinggi Abang Johari Openg Tun stressed the need to apply OMO since the rights allowing the oil and gas stakeholders to operate in Sarawak belong According to the new regulation, Petronas should only deal with Petros to produce or extract oil and gas underground within Sarawak boundaries.
Related News: Petronas maintains exclusive ownership
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