Malaysia, Brunei formalize agreement for maritime boundary fields

Malaysia, through its national oil company Petronas, formalized a unitization agreement with the government of Brunei Darussalam for Gumusut-Kakap and Geronggong-Jagus East fields which straddle along the Malaysian-Brunei maritime boundary.

The agreement establishes a platform for joint development of the fields by Petronas and the National Unitisation Secretariat (NUS) of Brunei “to further enhance the value derived from these assets for both countries,” according to a Petronas release Apr. 5.