CM: Sarawak oil company equal with Petronas
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KUCHING, Aug 9 — Sarawak state-owned Petroleum Sarawak Berhad (Petros) will have the same status as national oil company Petronas in the exploration of oil and gas resources in the state, Chief Minister Datuk Amar Abang Johari Openg said today
"Petros will be an investor and will work with Petronas, particularly in the upstream activities," he said after opening an International Conference on Language Studies organised by Universiti Malaysia Sarawak (Unimas) here.
He said Sarawak must have its own vehicle in the exploration of oil and gas resources found in its territorial waters.
He said there is already something on the pipeline, which he and Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin will announce later for Petros and Petronas.
On Petros board members, Abang Johari said there will be five of them with vast experience working in either Petronas or Shell.
"They are professional Sarawakians and none will be politicians," he added.
He said the chief executive officer of Petros will be decided by the board, adding that the search is still ongoing to head-hunt the right candidate for the top job in the company.
Petros and state-owned Development Bank of Sarawak (DBoS) are among the new financial initiatives announced by Abang Johari within 100 days of becoming chief minister on January 13 this year, two days after taking over from Tan Sri Adenan Satem who died of heart complications.
Abang Johari said Sarawak will acquire a 10 per cent stake in MLNG Plant 9 Train, a liquefied natural gas facility in Bintulu.
"Yes, we are buying the 10 per cent equity and it is only a question of pricing," he said, adding that Petronas has agreed to sell of equity to Sarawak.