Offshore Oil & Gas Future Development

PETRONAS, through PETRONAS International Corporation Ltd, has signed a Sales & Purchase agreement to acquire Kuwait Petroleum (Thailand) Ltd (KPTL) from Kuwait Petroleum International Ltd, paving the way for the Malaysian petroleum entity to further expand its presence in the retail and marketing sector of the Thai oil and gas industry.

Under the terms of the S&P agreement signed today, PETRONAS will take over KPTL’s retail service station and lubricant businesses, including 117 operational petrol stations located in major cities in Thailand, as well as KPTL’s lubricant sales business conducted via the service stations and through dealerships and direct customers. (more…)

PETRONAS, through PETRONAS International Corporation Ltd, has signed a Sales & Purchase agreement to acquire Kuwait Petroleum (Thailand) Ltd (KPTL) from Kuwait Petroleum International Ltd, paving the way for the Malaysian petroleum entity to further expand its presence in the retail and marketing sector of the Thai oil and gas industry.Under the terms of the S&P agreement signed today, PETRONAS will take over KPTL’s retail service station and lubricant businesses, including 117 operational petrol stations located in major cities in Thailand, as well as KPTL’s lubricant sales business conducted via the service stations and through dealerships and direct customers. (more…)

PETRONAS, through its subsidiaries, has added two new blocks into its upstream business portfolio in Indonesia, further testimony to its commitment to establish a long-term position in the oil and gas industry of its ASEAN neighbour.

PC (North East Madura IV) Ltd, a subsidiary of PETRONAS, was on 12 December awarded a Production Sharing Contract (PSC) for the North East Madura Offshore Block IV by Indonesia’s Badan Perlaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (BPMIGAS). (more…)

PETRONAS, through its subsidiaries, has added two new blocks into its upstream business portfolio in Indonesia, further testimony to its commitment to establish a long-term position in the oil and gas industry of its ASEAN neighbour.PC (North East Madura IV) Ltd, a subsidiary of PETRONAS, was on 12 December awarded a Production Sharing Contract (PSC) for the North East Madura Offshore Block IV by Indonesia’s Badan Perlaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (BPMIGAS).

BPMIGAS, on October 6, had also approved the acquisition of BP (Muriah) Ltd’s entire equity in the Muriah Block PSC by PETRONAS Carigali Overseas Sdn Bhd (PCOSB), another subsidiary of PETRONAS. (more…)