Petronas-Petros partnership can help increase S’wak participation in oil and gas value chain

Wan Zulkiflee delivering his speech. – Photo by Chimon Upon

KUCHING: Petroliam Nasional Berhad (Petronas) has partnered with the Sarawak Economic Planning Unit on the development of the Sarawak Petrochemicals Masterplan Study, says Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin.

He said the scope of study includes gas monetisation options as part of efforts promote gas as a cleaner source of energy.

“In addition, we will explore the viability of a petrochemical hub and its related utilities infrastructure as well as human capital development.

“We hope this partnership will further increase Sarawak’s participation in the domestic integrated oil and gas value chain,” he said at the Sarawak Domestic Gas Signing Ceremony between Petroleum Sarawak Berhad (Petros) and Petronas which was witnessed by Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan at a leading hotel here today.

He pointed out that the commercial arrangement witnessed at the signing ceremony together with the development of the Sarawak Petrochemicals Masterplan Study aligned with Petronas’ Statement of Purpose in nurturing local capabilities and participation for the long-term sustainability of the domestic oil and gas industry.

“As a progressive energy and solutions partner enriching lives for a sustainable future, Petronas is committed to support the aspiration of the Sarawak government in developing the industry for the benefit of the people of Sarawak and the nation,” he said.

Wan Zulkiflee said since 1974, Petronas’ purpose has been deeply rooted in its responsibility to develop and maximise the value of Malaysia’s hydrocarbon resources to harness the good in energy for the shared benefit of the nation.

“Driven by this trust, Petronas is indeed proud to be a long-standing partner to Sarawak.

“Our fully integrated oil and gas business spanning from upstream to downstream has grown to meet the demand for secure, affordable and sustainable supply of energy both at home and abroad.”

On the signing of agreement between Petronas and Petros, he said it marked a new chapter in the national oil and gas company’s collaboration with Sarawak and reflected its commitment to collaborate and support the state government through its state-owned oil and gas company Petros.

“Under the commercial arrangement, the sale and purchase of the gas distribution businesses and assets in Miri and Bintulu will see the role of gas transporter and aggregator assumed by Petros under its subsidiary Petros Gas.

“Additionally, Petronas will provide long-term supply of natural gas for Petros’ onwards sale to their customers in Miri and Bintulu,” he remarked.

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Source: https://www.theborneopost.com/2020/02/12/petronas-petros-partnership-can-help-increase-swak-participation-in-oil-and-gas-value-chain/

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