Petronas, Brunei petroleum authorities sign agreements

Malaysia’s Petronas signed several agreements Dec. 8 with Brunei petroleum authorities. They include:

• A heads of agreement toward formalizing a unitization arrangement for Malaysia’s Kinabalu West NAG field and Brunei’s Maharajalela North Panel field.

• A heads of agreement toward a provisional arrangement for joint development of Malaysia’s Gumusut and Kakap fields and Brunei’s Geronggong and Jagus-East fields.

• Two production-sharing agreements awarded by Brunei National Petroleum Co. Snd. Bhd. (Petroleum Brunei) to Petronas Carigali Brunei Ltd. and Shell Deepwater Borneo Ltd. for Brunei’s offshore Blocks N and Q in the eastern shallow waters. Petronas Carigali Brunei is operator of Block N; Shell operates Block Q.

• An agreement for Petroleum Brunei to acquire a 3% interest in Petronas’ Canadian shale gas assets and in Petronas’ proposed Canadian LNG facility, as well as a 3% share of the facility’s LNG production for a minimum of 20 years.

• A memorandum of understanding by subsidiaries of Petronas and Petroleum Brunei to explore the possibility of setting up a joint venture to provide engineering and fabrication services.

The signings occurred in conjunction with the 17th Annual Malaysia-Brunei Leaders’ Consultation in Bandar Seri Begawan.

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