ONGOING commercial negotiations between Petroliam Nasional Berhad (Petronas) and Petroleum Sarawak Berhad (Petros) are expected to conclude in the near future, although no fixed timeline has been set, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
Speaking to reporters at a recent official event in Kuching, Fadillah noted that while both parties had reached a foundational agreement through a joint declaration between the Federal and Sarawak governments, the business terms are still under discussion.
“The declaration is already in place. What has yet to be finalised is the commercial negotiation between Petronas and Petros. These discussions are still ongoing,” he said.
The joint declaration, he explained, affirms that federal and state laws must operate in parallel, ensuring that the rights of both parties are upheld.
“It is crucial that any negotiations do not disregard the existence of the applicable laws, whether at the federal or state level. These laws must be implemented concurrently,” Fadillah added.
Commenting on remarks made in Parliament by Minister in the Prime Minister’s Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, Fadillah confirmed that the outstanding matters relate solely to the business terms between the two oil and gas entities.
He expressed hope that the process would be concluded soon to streamline investment and operational activities in Malaysia’s upstream and downstream energy sectors, both onshore and offshore. - August 16, 2025
