Sarawak to study PM’s offer to own stake in Petronas, says CM office

Posted on : 18 Dec 2019  Source of News: The Borneo Post

Abang Johari (left) makes a point during the meeting as Dr Mahathir (centre) and Mohd Shafie listen.

KUCHING: Prime Minister Tun Dr Mahathir Mohammad has invited Sarawak and Sabah to explore the idea of following Peninsular Malaysia in owning stakes in Petronas, the Sarawak Chief Minister’s office (CMO) said in a statement today.

This is taking into consideration that the national oil company is a global company with concessions overseas in Central Asia, Africa and North America, especially Canada, the statement said.

“It has been expressed to the Prime Minister however that Sarawak has to study the proposal in-depth,” it said.

The statement was issued to relay what had transpired during a 90-minute long meeting between Dr Mahathir, and Sarawak Chief Minister Datuk Patinggi Abang Johari  Tun Openg and his Sabah counterpart Datuk Seri Panglima Mohd Shafie Apdal at the Prime Minister’s Office in Putrajaya on Monday.

The statement said the meeting was held to discuss issues pertaining to the rights of Sarawak and Sabah over the gas and oil resources in the two states.

“It was also expressed to the Prime Minister that Sarawak is strengthening Petros’
participation in both the upstream and downstream activities of the oil and gas industry in Sarawak under the Oil Mining Ordinance (OMO) 1958 and relevant provisions in the Sarawak Constitution,” the CMO statement said.

Petros was set up by the Sarawak government in March 2018 to regulate and develop the state’s oil and gas industry.