Petros punches up on behalf of Sarawak

摘要

PETROLEUM Sarawak (Petros) was established three years ago by the state government of Sarawak, East Malaysia to spearhead the state's direct involvement in development of its considerable oil and gas resources. Under state laws passed in 2017, Petros can regulate, facilitate, manage and develop Sarawak's oil and gas assets both onshore and offshore - the same responsibilities of the national oil company, Petronas, under 1974 federal laws. Thus, Petros' existence and performance has been eclipsed by the Sarawak state government's deeply political battle with Petronas and the federal government about the state's ambitions to grow its authority and control over its own oil and gas patch. There was a semblance of a breakthrough in May this year when the two sides announced they had agreed on a "way forward" but negotiations are still ongoing.