Abang Johari speaks to the media after chairing the PBB Supreme Council Meeting today. – Photo by Muhammad Rais Sanusi
KUCHING (Sept 1): Petros has yet to be directly involve in the management of the six oil wells recently discovered offshore Sarawak, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg
“However, we have our arrangement within the commercial agreement between us and Petronas – in other words, there is a clause called carried interest within Sarawak waters,” he told a press conference at the Parti Pesaka Bumiputera Bersatu (PBB) headquarters in Petra Jaya here this evening.
Elaborating further, Abang Johari said based on the commercial agreement signed between Sarawak and Petronas Carigali, Petronas should divide half of its equity to Sarawak.
“Lets say Petronas has a 30-per cent equity, and the contractor is 70-per cent, under our commercial agreement, that 30 per cent must be split with Sarawak’s interest. So, 15 per cent for Petronas, the other 15 per cent is for us.
“That is based on our commercial agreement signed between Petronas Carigali with us,” he explained.
Nonetheless, Abang Johari said Sarawak will continue to work with Petronas as the oil and gas company had contributed to the development of the industry in the state.
He was responding to the statement by Petronas president and chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz who said Petronas will continue to work with Sarawak in terms of developing the industry.
“Of course we will work together with Petronas as it is a Malaysian oil and gas company. At the same time we are also working with Shell as they have played a role in the industry in Sarawak since 1910.
“Shell is also Petronas’ contractor that is also involved in the discovery of the six new oil wells. As such, we welcome oil and gas companies that are investing in Sarawak,” he said.
