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Old December 13th, 2004, 02:21 PM   #21
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Petronas To Contribute RM25 Bln To Govt This Year


KUALA LUMPUR, Dec 9 (Bernama) -- National oil and gas corporation Petronas is expected to contribute RM25 billion to the country's income this year based on the company's profit for 2004, Minister in the Prime Minister's Department Datuk Mustapa Mohamed said here Thursday.

He said that the contribution would be in the form of dividends and other revenues.

"It contributes some 25 percent to the country's revenue," he said in his reply to a supplementary question by Senator Datuk Rhina Bhar at the Dewan Negara here Thursday.

Mustapa said that the government was not only satisfied with Petronas' performance and the revenue obtained but also with the way the company's projects were managed locally and overseas.

Earlier, in his reply to Rhina's question, Mustapa said that the country's oil reserves had increased 7.2 percent to 4.84 billion barrels while natural gas reserves increased to 89 trillion cubic feet (TCF).

He said that the increase was due to the success in opening up new areas especially deep sea.

"Based on the current production rate for oil and gas, it can last for 18 years, while for gas 35 years," he said.

Mustapa said that up to January this year, Malaysia is ranked 24th in terms of world oil reserves and 13th for gas.

To a supplementary question from Datuk Karim Ghani, he said that 56 percent of the oil reserves are in Peninsular Malaysia, 19 percent in Sabah and the rest in Sarawak.

He also said that the government did not propose to increase the five percent oil royalties given to the states concerned.

-- BERNAMA
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Old December 15th, 2004, 02:19 PM   #22
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Senate: Petronas Invests In 35 Countries


KUALA LUMPUR, Dec 15 (Bernama) -- Petronas has established joint ventures for petroleum and gas exploration activities in 35 countries, involving investments worth US$9.4 billion up to September this year.

Parliamentary Secretary in the Prime Minister's Department Datuk Mohd Johari Baharum said among the countries were Algeria, Angola, Cameroon, Bahrain, Indonesia, Egypt, Libya, Iran, Pakistan, Myanmar and Mozambique.

The joint ventures, he said, had contributed US$4.9 billion in profits.

"The profits are expected to increase in the future, in accordance with the petroleum and gas productions," he said when replying to Senator Datuk Yaakob Mohammed at the Dewan Negara here Wednesday.

Mohd Johari said Petronas also implemented long-term strategies, like participating in downstream industries, including oil refining and natural gas processing activities and the trading of petroleum and petrochemical products to add value to the company's oil and gas products.

-- BERNAMA
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Old December 25th, 2004, 07:35 PM   #23
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From Forbes
Associated Press
Malaysian Oil Company Expands in Thailand
12.25.2004, 10:19 AM

Malaysia's national oil company said it will expand its investments in Thailand by buying the Thai operations of Kuwaiti Petroleum International, which operates over 117 gasoline stations across the country.

Under the agreement signed Friday, Petronas would acquire Kuwait Petroleum (Thailand), taking over the gasoline stations and KPTL's lubricant businesses, the company said in a statement. No financial details were disclosed.

The acquisition - expected to be completed by end January - does not include KPTL's aviation business, which will be handed over to a subsidiary of Kuwaiti Petroleum, the statement said.

About 70 percent of KPTL's 117 gasoline stations are located in the Thai capital, Bangkok.

The statement said Petronas will embark on a 12-month program to upgrade the stations to provide more products and services.

It said the deal would enable Petronas - which currently operates three gasoline stations in Thailand - to reach a wider market for its fuel and petroleum products.
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Old January 21st, 2005, 06:09 PM   #24
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Petronas, Namhae to relocate Korean melamine plant to Bintulu


Petroliam Nasional Bhd (Petronas) subsidiary Asean Bintulu Fertilizer Sdn Bhd (ABF) has teamed up with Korea's Namhae Chemical Corporation (NCC) to relocate the latter's melamine plant in Yeosu, Korea to Bintulu at a cost of RM150 million.

Under the joint venture, ABF and NCC will form a JV company -- ABF Namhae Melamine Sdn Bhd -- that will relocate NCC's existing melamine plant in Yeosu to a new site adjacent to ABF's ammonia and urea plants in Bintulu.

ABF and NCC signed a shareholders agreement yesterday (Jan 20) to form the JV company on an equal basis, with an authorised capital of RM150 million.

"The cost of the project is estimated at RM150 million and will be funded by shareholders equity and third party loans," Petronas said in a statement.

It said the agreement marked a major milestone in ABF's 20-year history.

"Not only will the plant be the country's maiden melamine venture, it also signifies ABF's first diversification into further downstream, value-adding products," it said.

"The project is expected to be completed and commissioned in early 2006," it said, adding that ABF would supply urea as feedstock to the melamine plant and would operate the plant on behalf of the JV company.

Petronas said the new plant would have an annual production capacity of 15,000 tonnes of melamine.

Melamine is an organic chemical product manufactured from urea and which comes in the form of a white crystalline non-toxic powder.

Melamine is used mainly as a component to make products such as paints, adhesives, decorative laminates, water-resistant chipboard and plywood as well as in the formulation of moulding powders for the manufacturing of electrical components and unbreakable tableware.

The shareholders agreement was signed in Kuala Lumpur where ABF was represented by its chairman Tan Sri Mohd Hassan Marican and NCC by its president KT Jang.

ABF was the first petrochemical plant owned and operated by Petronas and was set up as an Asean industrial JV project. Malaysia has a 63.5% stae, Indonesia (13%), Thailand (13%), the Philippines (9.5%) and Singapore (1%).
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Old January 21st, 2005, 06:12 PM   #25
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Petronas well off Turkmen coast starts production

ASHGABAT: An offshore oilwell in Turkmenistan's section of the Caspian Sea has begun producing major oil flows, Petronas, which has exploration rights to the field, said yesterday.

The well drilled by Petronas in the Makhtumkuli field, known in Soviet times as East Livanov, is producing nearly 800 tonnes of oil and half a million cubic metres of natural gas daily, the company said in a written statement.

The Makhtumkuli field lies some 70km from Turkmenistan's coast and some 4,500 metres below the seabed, Turkmen officials have said.

Commercial production at the site could begin in the second half of this year, Petronas said.

“In the coming year the company intends to drill another three highly rated wells that will provide a chance to define the reserves of mineral resources and to establish a timetable of exploitation work and a plan for extracting oil and gas,” the statement read.

Commercially viable oil flows have also begun at two other offshore fields whose exploration rights Petronas owns, Ovez and Diyarbekir, the company said. – AFP
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Old January 22nd, 2005, 02:42 PM   #26
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Petronas Enters Lubricant Marts In Switzerland, Liechtenstein


KUALA LUMPUR, Jan 22 (Bernama) -- PETRONAS, Malaysia's oil and gas multinational, has officially introduced its range of premium grade automotive engine oils in Switzerland and Liechtenstein.

These products were launched on Jan 20, in Langenthal, Switzerland, said Petronas in a statement here.

The company had earlier signed an agreement with Switzerland-based Bucher Ag Langenthal, also known as Motorex, to market and distribute PETRONAS' SYNTIUM brand premium grade lubricants in these two countries.

Under the agreement, Motorex will initially market the lubricants, including the synthetic range of SYNTIUM 5000 FS, SYNTIUM 3000S and SYNTIUM 1000S through a select number of gas stations and supermarket outlets of Coop, Switzerland's second largest consumer products retailer.

All products in the SYNTIUM range have been developed using race-proven Formula One technology through PETRONAS' involvement in and close collaboration with the SAUBER PETRONAS Formula One team.

PETRONAS is confident that the collaboration with Motirex would eventually pave the way for its lubricant to enter other European markets in the near future.

Its lubricants now enjoy a significant share of the Malaysian market, and are also available in China, Macau, Hong Kong, Indonesia, the Philippines, Thailand, Sudan and South Africa.

-- BERNAMA
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Old February 17th, 2005, 03:15 PM   #27
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Petronas Awards Contracts To Shell And Petronas Carigali


KUALA LUMPUR, Feb 16 (Bernama) -- PETRONAS Wednesday awarded two Production Sharing Contracts (PSCs) to Shell and Petronas Carigali Sdn Bhd for the ultra-deepwater Blocks ND6 and ND7 offshore the east coast of Sabah.

The two blocks are situated in water depths ranging from 200 to 4,000 metres in the Tarakan Basin, between 100km and 180km south east of Tawau, the company said in a statement here Wednesday.

Block ND6 covers an area of about 8,700 sq km, while Block ND7 has an area of about 17,000 sq km.

PETRONAS said that under the terms of PSCs, Shell and Petronas Carigali will jointly operate both blocks.

Shell has 50 percent working interests; split between Sabah Shell Petroleum Co. Ltd (40 percent) and Shell Sabah Selatan Co. Ltd. (10 percent) while PETRONAS Carigali, the exploration and production arm of PETRONAS, owned the remaining 50 percent interests.

For Block ND6, the partners will acquire and process 1,700 sq km of new 3D seismic data and drill three wildcat wells. The minimum financial commitment for the block is US$37 million (US$1.00=RM3.80).

As for Block ND7, the partners will acquire and process 800 sq km of new 3D seismic data and drill one wildcat. The minimum financial commitment for the block is US$13 million.

PETRONAS said that it had received highly competitive bid proposals for both Blocks ND6 and ND7 data from international petroleum companies, reflecting their confidence in the hydrocarbon prospects in the Tarakan Basin as well as in the Malaysian deepwater areas south east of Sabah.

-- BERNAMA
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Old March 8th, 2005, 08:17 PM   #28
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Petronas and partners start LNG shipment from Egypt


PETRONAS Bhd, together with its partners BG International Ltd and Egyptian General Petroleum Corp (EGPC), have successfully delivered their first liquefied natural gas (LNG) cargo to Asean LNG Trading Co Ltd (ALTCO).

In a statement yesterday, Petronas said the delivery was the partners’ first cargo commitment under a five-year sale and purchase agreement signed with ALTCO, and BG Gas Marketing Ltd.

ALTCO is a subsidiary of Petronas.

Under the agreement, ALTCO and BG Gas would on a 50:50 basis lift 1.45 million tonnes of LNG annually from the Damietta LNG complex in Egypt, owned by Spanish Egyptian Gas Co (SEGAs).

The plant receives its feed gas from the West Delta Deep Marine (WDDM) concession area under a separate five-year processing agreement it reached with Egyptian Natural Gas Co Holding (EGAS).

Petronas has a 50% working interest in the WDDM concession area, about 140km from the LNG complex.

The cargo was among the first batch of LNG shipments from Egypt and marked the product’s first export by Petronas and its partners from the country.

Petronas, which first entered Egypt in 2001 through a joint venture with Shell in the North Mediterranean Deep Water (NEMED) block, is an active player in the country’s upstream and downstream oil and gas activities. – Bernama
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Old April 5th, 2005, 03:11 PM   #29
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PETRONAS Commences Gas Production In Pakistan


KUALA LUMPUR, April 5 (Bernama) -- Petroliam Nasional Bhd's (PETRONAS) subsidiary, PETRONAS Carigali (Pakistan) Ltd has started sales gas production from the Rehmat Field in Block 2769-4 (Mubarak) in Pakistan's Sindh Province.

In a statement Tuesday, the national oil corporation said the processed gas was supplied to Sui Northern Gas Pipeline Ltd's Sawan-Qadirpur trunk line starting from March 26 through a 35 km pipeline from the Rehmat Gas Plant in Ghotki, near Sukkur, about 750 km south east of Islamabad.

PETRONAS said that initial production rate of the plant was 15 million standard cubic feet per day (mmscfd) but would be increased to 70 mmscfd within the next two months.

PETRONAS Carigali Pakistan is the operator of the Rehmat Field, where upstream activities are being undertaken on a joint venture basis with partners ENI Pakistan Ltd and Pakistan's Government Holdings Pte Ltd.

The gas field was discovered in August 2001.

The commencement of production from the Rehmat Field is PETRONAS' first success in Pakistan after entering the country in 1996 and this serves as a testimony to its commitment in the development of the oil and gas industry in the country.

-- BERNAMA
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Old April 9th, 2005, 06:28 PM   #30
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Petronas drops plan for Indon LNG plant


PETROLIAM Nasional Bhd (Petronas) won't build a liquefied natural gas (LNG) plant in Indonesia as gas reserves at the proposed site fall short of requirements.

Petronas's plant in Matindok on Sulawesi island was intended as a base from where the fuel could be supplied to customers in the US and Mexico, said Amril Adnan, head of exploration at Indonesia's state oil company PT Pertamina, a partner in the project.

“Petronas only wants to participate if the Matindok block could be developed as an LNG project,'' Adnan told reporters in Jakarta on Thursday. “We're still not sure whether the gas reserves are sufficient for the project.''

Petronas officials in Jakarta couldn't be reached immediately for comment.

Pertamina in May 2003 delayed marketing gas from Matindok's Donggi field after test wells showed less gas than estimated. The company said in 2002 the field might hold as much as 22 trillion cu ft of gas. – Bloomberg
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Old April 15th, 2005, 07:37 PM   #31
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Petronas-Shell JV Makes Fourth Gas Discovery


KUALA LUMPUR, April 14 (Bernama) -- CS Mutiara Petroleum Sdn Bhd, a 50:50 joint company between Petronas Carigali Sdn Bhd and Shell Exploration and Production Malaysia B.V. has made another gas discovery in Block PM301, off the north east coast of Peninsular Malaysia.

Drilling operations on the Bumi South-1 well started on Feb 25, 2005, CS Mutiara Petroleum said in a statement today.

The exploration well, located in a water depth of 55 metres was drilled to a total depth of 1,650 metres and encountered multiple gas zones. Further technical evaluation is required to determine the reserves, it said.

The discovery is the fourth by CS Mutiara Petroleum, following the recent exploration successes of Bunga Kamelia, Bunga Zetung and Bunga Anggerik.

The latest discovery is located 25km northwest of the Bunga Anggerik gas field discovered in November 2004.

Technical studies is currently undertaken to assess the development options of this cluster of gas discoveries with plans to continue with exploration and appraisal activities in the same block.

CS Mutiara Petroleum was formed in July 2001 and operates Block PM301 and PM302, both located off the north east coast of Peninsular Malaysia.

-- BERNAMA
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Old April 15th, 2005, 08:15 PM   #32
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me so proud being the petronas scholar (sigh)
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Old April 28th, 2005, 09:29 PM   #33
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Petronas Carigali Installs First Sand Control Tool


KUALA LUMPUR, April 26 (Bernama) -- Petronas Carigali Sdn Bhd, the exploration and production arm of Petronas, has successfully installed the first Stratapac Separation Tool in its TK-54L well in Tukau Field, offshore Miri, Sarawak.

The Stratapac Separation Tool, believed to be the first such installation in the world, was completely installed on Feb 27, 2005, and has resulted in the well production increasing by about 400 percent, Petronas said in a statement Tuesday.

The tool is designed to be set inside the well tubing of sand control purposes. By positioning it in the middle producing zone, it can separate sand from oil in the reservoir, thus preventing the sand to be produced together when oil is flowed to the surface, Petronas added.

A conventional sand control tool is normally installed at the end of the production tubing, it explained.

The Stratapac Separation Tool provides a practical and cost-effective solution for oil field operators working on wells that are experiencing sand failure, Petronas said.

"With the application of this new technology, the operators will be able to capitalise fully on the potential of the wells. The method proves to be an effective alternative to other expensive conventional sand control tools," it said.

The technology was developed in collaboration with Weatherford (M) Sdn Bhd, an oilfield service company specialising in providing well completion services and production systems.

According to Petronas, it represents another milestone for Petronas Carigali in its continuous effort towards achieving operational excellence through close collaboration with its service providers.

-- BERNAMA
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Old April 28th, 2005, 09:32 PM   #34
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Petronas Carigali Makes Malaysia's First Basement Oil Discovery


KUALA LUMPUR, April 25 (Bernama) -- Petronas Carigali Sdn Bhd, the upstream exploration and production arm of Petronas, has made the country's first basement oil discovery.

It discovered oil in the basement of an exploration well drilled within the Southern Malay Basin offshore Terengganu, Petronas said in a statement.

The Anding Utara-1 exploration well and its sidetrack were drilled recently and both tested oil and gas in the basement, the bottom layer of a hydrocarbon prospect usually devoid of any potential, Petronas said.

It added that the Anding Utara-1 well was drilled to a total depth of 2,610 metres, including 120 metres of vertical depth into the basement.

The sidetrack well reached a total depth of 2,740 metres, including 250 metres of penetration into the basement, it said.

Anding Utara is located within the Malong-Sotong-Anding Production Sub-block of Block PM12, Petronas said.

Petronas Carigali has completed conventional testing of the wells and is now evaluating the potential of this discovery.

-- BERNAMA
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Old April 28th, 2005, 09:42 PM   #35
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INTERVIEW WITH SAUBER PETRONAS DRIVER JACQUES VILLENEUVE

Wednesday, April 27, 2005

Question: You scored your first championship points for SAUBER PETRONAS in Imola - how do you feel looking back on the race?

Jacques Villeneuve: I feel great because we took every opportunity there and maximised it. The team had a fine strategy and did a good job with the pit stops. In addition, the characteristics of the car were such that I could really push it to the limit for the first time.

Q: Was this a big relief after the difficult races you have had so far?

JV: I never had any doubts, but I believe that this result will make everybody more positive and life easier in general.


Q: Why were you able to progress so much in Imola?

JV: There were several reasons for that. One of them was for sure the new aero package which was really a big step in terms of performance but also stability. Furthermore, we worked on the mechanical set-up of the car with more freedom than in previous races, which enabled me to adjust it to my liking. And, in addition, we used a modified traction control programme that was developed by the SAUBER PETRONAS engineers based on my input in order to better suit my driving style. All these factors together resulted in a significant step forward.


Q: Do you think that there is more room for improvements in this direction?

JV: Absolutely, there is potential for more to come! This was only the first step with the traction control. I am sure that we can further optimise it. We will do more testing this week in Fiorano, and one part of the programme is to work on the traction control.


Q: Do you expect the same sort of result in Barcelona?

JV: I don't know. Barcelona is a very different track from Imola, and we had a difficult test there. On top of that, we didn't have the new aero package then, which really makes a big difference. A lot will depend on how quickly we will be able find the right set-up. However, in any case, we improved the car significantly in Imola and this should also help us in Barcelona.


Q: This is the first time in your Formula One career that you are driving for a private team - what is the difference to the big factory teams?

JV: The biggest difference is the budget which means that everything has to be much more controlled. We do considerably less testing than the factory teams, and as a result there is less freedom to try different ideas. This forces the people to be very efficient.


Q: How do you get along with your team-mate Felipe Massa?

JV: Our relationship is very friendly! I didn't really know Felipe until the beginning of the season. However, we got on well right from the start, and there is a good amount of respect. Although he is still very young, he has already a considerable amount of experience.


Q: What are your goals for the remainder of the season?

JV: The main goal is really to keep the momentum that we have now and to work in the same direction as we did in Imola. I am convinced that this will enable us to make further progress.
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Old May 10th, 2005, 04:53 PM   #36
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Petronas may withdraw from Iran’s LNG project


LNG project PETRONAS may withdraw from a joint venture to develop Iran’s Pars liquefied natural gas (LNG) project “if the commercial terms do not meet our financial criteria,” said president and chief executive officer Tan Sri Hassan Marican.

The project, to be undertaken with Total SA of France, involves the participation in a plant for the downstream development of LNG.

He was speaking to reporters after the unveiling of a new brand identity for Malaysia Shipyard and Engineering Sdn Bhd in Pasir Gudang yesterday.

News reports last week said both companies were in talks over the likelihood of Petronas withdrawing from the project.

Petronas reportedly has a 20% stake in the Pars LNG production company set up last year to build a US$2bil liquefaction facility in Iran.

Total SA has a 30% stake and the National Iranian Gas Export Co (Nigec) holds the balance.

News reports quoted a Petronas spokesman last week as saying that the national oil corporation might limit its role to the upstream portion of the development.

Petronas also has a 40% equity in developing phase 11 of the South Pars gas field, which is to be developed under a separate buy block contract with Total SA holding 60%.

The spokesman had also said Petronas was committed to the upstream development of the project. – Bernama
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Old May 12th, 2005, 05:48 PM   #37
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Petronas Organising Tenth Annual Asia Oil & Gas Conference


KUALA LUMPUR, May 11 (Bernama) -- Petronas will organise the 10th Annual Asia Oil And Gas Conference (AOGC 2005) at the newly completed Kuala Lumpur Convention Centre from June 12 to 14.

Prime Minister Datuk Seri Abdullah Ahmad Badawi is expected to officiate the conference themed "Coping With A New World Order: Challenges For The Oil and Gas Industry," Petronas said in a statement here Wednesday

It said that the theme was most appropriate in view of the many changes and challenges that are happening today in the oil and gas industry.

Among notable international speakers sharing their views and thoughts at the conference are chairman of the Board of Shell Companies Jeroen van der Veer, who will deliver the conference's Industry Address.

Other prominent speakers include R.M. (Rich) Kruger Vice President Asia Pacific/ Middle East ExxonMobil Production Company, US, Cristophe de Margerie President, Exploration and Production, TOTAL, France, Alexander Potapushin President, Lukoil, Russian Federation and Iin Arifin Takhyan Director General, MIGAS, Indonesia.

The conference chairman, Dr Fereidun Fesharaki of FACTS Inc, US will also share his thoughts on oil market and prices in the near term.

Prominent senior officials from oil and gas companies and related research, consultancy organisations and media invited include PT PERTAMINA PERSERO, Indonesia, Philippine National Oil Company, Singapore Petroleum Company Ltd, Brunei National Petroleum Sdn Bhd, PTT Public Company Ltd, Thailand, PETROVIETNAM, Shell Malaysia, BP Malaysia, ExxonMobil, Murphy Sarawak Oil co. Ltd., Secretary General of ASEAN and Malaysian Institute of Economic Research (MIER).

AOGC 2005 is expected to attract more than 1,000 participants comprising members of the oil and gas fraternity as well as other industries, worldwide.

More information on AOGC 2005 can be obtained from the AOGC Secretariat telephone number 603 2331 4548 / 2331 2122, fax number 603 2331 1543, AOGC website: www.AOGC-petronas.com or e-mail: [email protected].

-- BERNAMA
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Old June 22nd, 2005, 08:31 AM   #38
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Petronas Aims To Raise Involvement In OIC Countries
By Wan Nurzila Abdul Rahman

PUTRAJAYA, June 21 (Bernama) -- Petronas, having played a key role in developing oil resources in both Islamic and South-South countries, will continue to do so as part of its responsibility in the development of the Ummah.

Its president and chief executive officer, Tan Sri Mohd Hassan Marican, said the national oil company now has presence in 36 countries, of which 16 are Organisation of Islamic Conference (OIC) member countries.

"Our strength is based on the long-term partnership and presence in those countries. We always wished to do more in OIC countries," he said on the second day of the OIC trade forum in Putrajaya Tuesday.

The national oil corporation has spent about US$5 billion in the last five years in developing and producing oil in the OIC countries.

"Some 70 percent of the world's oil reserves are in the OIC countries. We have been very active in the last five years, developing and producing hydrocarbon," he said.

Sharing Petronas's experience in venturing abroad, Mohd Hassan cited Sudan as among many of its successful ventures in going global.

He said, Petronas, through its joint venture company in Sudan, had weathered many obstacles during the earlier part of the venture including political and economic turmoil.

Now, as a result of the intensive work and total commitment in the country, Petronas aims to raise output in Sudan through its joint venture to one million barrels per day by 2007, up from 300,000 barrels.

Mohd Hassan said Petronas decided to go global about 15 years ago, exploring the opportunities while balancing national interests.

"We work with the (various) governments as well as multinational companies and the people of the respective nations. These are some of the ingredients of Petronas's success overseas," he said.

"One of the biggest challenges is to change the mindset of our own people from behaving as the owner. We may be the boss at home (but) outside, we are just like anybody else," he said.

Mohd Hassan said that along the way, Petronas was able to develop capacity and skills through such alliances.

-- BERNAMA
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Old June 22nd, 2005, 08:33 AM   #39
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Petronas To Raise Oil Output In Sudan
By Wan Nurzila Abdul Rahman

PUTRAJAYA, June 21 (Bernama) -- Petronas, through its joint venture company, aims to raise oil output in Sudan to one million barrels per day by 2007 up from 300,000 barrels now, president and chief executive officer of Petronas Tan Sri Mohd Hassan Marican said.

Petronas is involved in the upstream sector -- in exploration and production -- in Sudan's lucrative oil resources with a joint operatorship with the Sudan National Oil Company and China National Petroleum Corporation since 1997.

It is also involved in product retailing and marketing and operates service stations as well as marketing petroleum products.

Recent news reports said that Sudan would be exporting oil from the Melut Basin starting August this year, n which Petronas -- Asia's largest refiner, has a major role.

Mohd Hassan told a session at the IDB group meetings here today that Petronas intends to increase its presence in the African region.

Among Petronas' interests are in ongoing projects in exploration of oil reserves in Chad as well as in the construction of 170 km of the 1,070 km pipeline from oil fields in Southern Chad to the coast of Cameroon.

Besides that, Mohd Hassan said Petronas intends to play greater role in developing oil resources in the Organisation of Islamic Conference (OIC) countries.

He was speaking on the final day of the two-day OIC-Trade Forum, which is a side event of the 30th Annual Meeting of the Islamic Development Bank Board of Governors, here.

The national oil company now has a presence in 36 countries, of which 16 are OIC member countries.

-- BERNAMA
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Old November 15th, 2007, 04:19 AM   #40
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PETRONAS News

here we go..

Petronas, short for Petroliam Nasional Berhad, is a Malaysian owned oil and gas company that was founded on August 17, 1974. Wholly owned by the Government, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. Petronas is ranked among Fortune Global 500's largest corporations in the world.


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