Kota Kinabalu: Petronas’ decision to enter into Commercial Settlement Agreements (CSA) and Commercial Collaboration Agreements (CCA) with Sabah and Sarawak since last year helped to overcome otherwise contentious issues on oil and gas rights with both Bornean states.
It was also partly due to the realisation that it is time to pay more attention to domestic deposits following eight out of 10 new oil and gas discoveries last year being in Malaysia, in particular Sarawak.
“Given what we have seen last year, we decided there’s going to be more targeted domestic involvement this year onwards.