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PETRONAS DAGANGAN ENTERS PARTNERSHIP FOR BULK PETROLEUM TERMINAL PROJECT IN KUCHING
PETRONAS Dagangan Bhd (PDB), the domestic marketing arm of PETRONAS, today signed a Shareholders’ Agreement with Assar Senari Sdn Bhd and Shell Timur Sdn Bhd to participate in a joint venture company that will operate and manage an automated bulk petroleum terminal in Kuching, Sarawak.Under the agreement, PDB will take up 20 per cent equity in the newly formed joint venture, IOT Management Sdn Bhd. Assar Senari will hold 70 per cent equity while Shell Timur will own the remaining 10 per cent.
IOT Management will manage the storage and distribution of petroleum products at the bulk terminal, which is still under construction at Senari, near Kuching. The terminal, which will be owned by Assar Senari’s subsidiary Assar Chemicals Sdn Bhd, is scheduled to commence operation in late 2005. It will have an initial capacity of 500,000 kilolitres with a provision for expansion at a later stage of its operation. PDB and Shell Timur will be the principal users of the terminal. (more…)
PETRONAS DAGANGAN ENTERS PARTNERSHIP FOR BULK PETROLEUM TERMINAL PROJECT IN KUCHING
PETRONAS Dagangan Bhd (PDB), the domestic marketing arm of PETRONAS, today signed a Shareholders’ Agreement with Assar Senari Sdn Bhd and Shell Timur Sdn Bhd to participate in a joint venture company that will operate and manage an automated bulk petroleum terminal in Kuching, Sarawak.
Under the agreement, PDB will take up 20 per cent equity in the newly formed joint venture, IOT Management Sdn Bhd. Assar Senari will hold 70 per cent equity while Shell Timur will own the remaining 10 per cent. (more…)
PETRONAS SIGNS OFFSHORE PETROLEUM AGREEMENT IN MOROCCO
PETRONAS, through its wholly-owned subsidiary PETRONAS Carigali Overseas Sdn Bhd (PCOSB), has entered into a Petroleum Agreement and Association Contract with the Office National de Recherches et d’Explorations Pétrolières (ONAREP), the national oil company of Morocco, for an offshore deepwater Rabat-Sale Haute Mer area in Morocco.The Agreement and the Contract were signed today in Rabat by PETRONAS’ President & Chief Executive Officer Tan Sri Dato’ Sri Mohd Hassan Marican and ONAREP’s Director General Madame Amina Benkhadra. The Rabat-Sale Haute Mer block covers an area of 14,000 square kilometres and is located in water depth of between 1,000 and 4,000 metres.
Under the Agreement, PCOSB will acquire and process 2,000 kilometres of new 2D seismic data and drill one exploration well in the Initial Period of three years. Subsequently, PCOSB will acquire and process 1,000 kilometers of new 2D seismic data and drill another exploration well in the First Extension Period of two years, and then acquire and process another 1,000 kilometres of new 2D seismic data and drill one more exploration well in the subsequent Second Extension Period of three years. (more…)
PETRONAS SIGNS OFFSHORE PETROLEUM AGREEMENT IN MOROCCO
PETRONAS, through its wholly-owned subsidiary PETRONAS Carigali Overseas Sdn Bhd (PCOSB), has entered into a Petroleum Agreement and Association Contract with the Office National de Recherches et d’Explorations Pétrolières (ONAREP), the national oil company of Morocco, for an offshore deepwater Rabat-Sale Haute Mer area in Morocco.
The Agreement and the Contract were signed today in Rabat by PETRONAS’ President & Chief Executive Officer Tan Sri Dato’ Sri Mohd Hassan Marican and ONAREP’s Director General Madame Amina Benkhadra. The Rabat-Sale Haute Mer block covers an area of 14,000 square kilometres and is located in water depth of between 1,000 and 4,000 metres. (more…)