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PETRONAS TO EXPLORE FOR HYDROCARBONS IN TIMOR SEA
PETRONAS, together with partners Korea Gas, Samsung and LG International, has been awarded a Production Sharing Contract (PSC) by the Timor Sea Designated Authority (TSDA) for an offshore exploration block in the Joint Petroleum Development Area (JPDA) between Timor Leste and Australia.The PSC for Block 06-102 was signed in Dili today. PETRONAS, through subsidiary PC (Timor Sea 06-102) Ltd, holds 50 per cent equity in the PSC and will be the operator of the Block. The remaining equity is shared by Korea Gas (30 per cent), Samsung (10 per cent) and LG International (10 per cent).
Block 06-102 covers an area of 4,125 square km and is located about 450 km from Darwin, Australia and about 250 km off the shore of Timor Leste. It is the first Block to have been awarded by the TSDA. (more…)
CHINA CARMAKER AND PARTNER TO MANUFACTURE PETRONAS ENGINE
PETRONAS is pleased to inform that China’s carmaker Nanjing Automobile Corporation (NAC) and Brilliant Culture Group Limited (BCG) have reached an agreement to jointly manufacture PETRONAS’ EO1 engine for commercial use. The project is scheduled to take off in December 2006 with production expected to commence in 2009 with an annual production capacity of 100,000 units.PETRONAS will be the technology provider to the project and will provide support through its R&D centre in Malaysia. The cooperative parties are currently exploring the possibility of establishing an engine R&D laboratory in China. (more…)
MALAYSIA TO SUPPLY LNG TO SHANGHAI LNG COMPANY
Malaysia LNG Tiga Sdn Bhd, a subsidiary of PETRONAS, has signed Sale and Purchase Agreements (SPA) with Shanghai LNG Company Ltd to supply up to 3.03 million metric tonnes of liquefied natural gas (LNG) annually for 25 years.The SPA was signed on 31 July 2006. The deal was officially announced by Prime Minister Datuk Seri Abdullah Ahmad Badawi and the Premier of China, His Excellency Wen Jiabao in Nanning, China during the bilateral meeting on 30 October 2006.
The signing of the SPA marked a major breakthrough for PETRONAS into China’s energy sector. This is PETRONAS’ first LNG deal with China. The deal will further enhance the economic ties between the two countries. (more…)
PETRONAS TO EXPLORE FOR HYDROCARBONS IN TIMOR SEA
PETRONAS, together with partners Korea Gas, Samsung and LG International, has been awarded a Production Sharing Contract (PSC) by the Timor Sea Designated Authority (TSDA) for an offshore exploration block in the Joint Petroleum Development Area (JPDA) between Timor Leste and Australia. (more…)
CHINA CARMAKER AND PARTNER TO MANUFACTURE PETRONAS ENGINE
PETRONAS is pleased to inform that China’s carmaker Nanjing Automobile Corporation (NAC) and Brilliant Culture Group Limited (BCG) have reached an agreement to jointly manufacture PETRONAS’ EO1 engine for commercial use. The project is scheduled to take off in December 2006 with production expected to commence in 2009 with an annual production capacity of 100,000 units. (more…)
MALAYSIA TO SUPPLY LNG TO SHANGHAI LNG COMPANY
Malaysia LNG Tiga Sdn Bhd, a subsidiary of PETRONAS, has signed Sale and Purchase Agreements (SPA) with Shanghai LNG Company Ltd to supply up to 3.03 million metric tonnes of liquefied natural gas (LNG) annually for 25 years.
The SPA was signed on 31 July 2006. The deal was officially announced by Prime Minister Datuk Seri Abdullah Ahmad Badawi and the Premier of China, His Excellency Wen Jiabao in Nanning, China during the bilateral meeting on 30 October 2006. (more…)