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PETRONAS SIGNS AGREEMENT WITH PERTAMINA FOR PURCHASE OF NATURAL GAS
PETRONAS, Malaysia’s national oil company, today signed a Gas Sales Agreement (GSA) with PERTAMINA, the Indonesian state-owned oil and gas enterprise, for the purchase of natural gas from Indonesia’s West Natuna Sea area.
Under the GSA, PETRONAS will purchase up to 250 million standard cubic feet (scf) of natural gas per day, with a total volume of 1.5 trillion scf over a 20-year period. Initial gas delivery is planned to commence by mid-2002. The gas will be supplied via a pipeline to PETRONAS’ Duyong Gas Field facilities located in Malaysia. (more…)
PETRONAS’ Venture in Vietnam Gets Financing Facility
hu My Plastics and Chemicals Company Ltd (PMPC), a joint venture between Petroliam Nasional Berhad (PETRONAS), PetroVietnam and Tramatsuco, has signed an agreement with Maybank Hanoi and Bank for Investment and Development of Vietnam (BIDV) Hanoi for a US$35 million credit facility. The loan will be used to part finance the capital expenditure for the company’s polyvinyl chloride (PVC) plant.
PETRONAS holds a 50 percent equity in the joint venture while its Vietnamese counterpart PetroVietnam has a 43 percent stake. Tramatsuco, the trading arm of the People’s Committee of Baria-Vung Tau, owns the remaining seven percent equity. (more…)