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Petronas does not have exclusive control over new oil field: Sarawak legal counsel | Scoop
Although Petronas owns the recently-discovered oil fields in Sarawak, the state government, through Petroleum Sarawak Bhd, retains substantial interest in these developments. – Unsplash pic, August 23, 2023
News

Petronas does not have exclusive control over new oil field: Sarawak legal counsel

Datuk Seri JC Fong says Petros to evaluate extent of state government's interests in latest discovery

Scoop Reporters
Updated
9:16 AM MYT

 

KUALA LUMPUR – The Sarawak government retains an interest in the new oil fields in the state although Petronas owns the recently-discovered reserves in the area, said Datuk Seri JC Fong.

Fong, who is the state’s legal counsel, said these discoveries are governed by the Petroleum Development Act (PDA) within the purview of Petronas.

However, he indicated that Petronas’ ownership does imply exclusive control for Petronas over the newfound fields.

The Sarawak government, acting through Petroleum Sarawak Bhd (Petros), retains substantial interest in these developments. This arrangement aligns with the commercial settlement

“The Oil Mining Ordinance 1958 (OMO) covers petroleum in the continental shelf. Such petroleum is vested via the PDA in Petronas,” he told Scoop.

“So the owner(s) of the new discoveries is Petronas under PDA, but Sarawak or Petros would have interests in the new discoveries as per the commercial settlement agreement.”

Fong’s remark came in light of Petronas’ recent discovery of eight oil and gas fields in Sarawak.

In response, Sarawak Deputy Premier Datuk Seri Dr Sim Kui Hian indicated that discussions between the state government and Petronas would follow the discovery.

In line with this sentiment, Sarawak Premier Tan Sri Abang Johari Openg said that, as stipulated by the Oil Mining Ordinance 1958, oil and gas resources within 200 nautical miles of Sarawak are state property.

Fong underlined that the Sarawak government’s next course of action is for Petros to conduct an evaluation to determine the extent of its interest in the newly discovered fields.

Meanwhile, Universiti Malaysia Sarawak’s analyst Assoc Prof Datuk Jeniri Amir said Sarawakians are confident that the state government is able to protect its oil and gas resources.

He said this was because Sarawak’s mining territorial zone is protected by the OMO.

“It (the newly discovered fields) belongs to Sarawak. Sarawakians are definitely supporting the state government (in protecting the fields).

“It is good to increase (state’s) revenue and generate job opportunities in Sarawak,” he said.

On the other hand, a Petronas spokesperson for the Sarawak region told Scoop that the national oil and gas firm will issue an official statement on the matter next week. – August 23, 2023

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