KUALA LUMPUR: PetroleumBrunei plans to buy a stake in Petroliam Nasional Bhd’s (Petronas) Canadian shale gas asset and its Canadian liquefied natural gas (LNG) facility.
Petronas said on Monday said a number of agreements were signed with the Brunei petroleum authorities towards deepening mutually beneficial cooperation in the oil and gas industry between the two parties.
PETRONAS is a Malaysian National Petroleum Company wholly owned by Malaysian Government. PETRONAS venture all over the world which include Sudan, Iran, Asian Region, Canada and Latin America and CIS countries
These agreements were inked on Sunday in conjunction with the 17th Annual Malaysia-Brunei Leaders’ Consultation held in Bandar Seri Begawan.
* The HOA to formalise the unitisation arrangement for the Kinabalu West NAG field and Maharajalela North Panel field was signed between PETRONAS and the National Unitisation Secretariat of Brunei Darussalam. The HOA paves the way for the two parties to resolve a number of issues relating to the unitisation and future development of these straddling fields.
Petronas and the National Unitisation Secretariat of Brunei Darussalam also signed another HOA to establish joint development parameters for the Gumusut/Kakap and Geronggong/Jagus-East fields based on a provisional production and cost sharing arrangement until a further agreement is reached on the status of the fields.