Petronas challenges Sarawak's claim over petroleum ownership

Petronas has sought a declaration from the Federal Court that it is the exclusive owner of petroleum resources and industry regulator throughout Malaysia, including Sarawak.

The national energy company is also seeking a declaration that the Petroleum Development Act 1974 was the de facto law governing the industry.

"Petronas believes that the determination by the Federal Court would help provide clarity on its rights and position under the PDA.

"Petronas remains committed to supporting Sarawak's aspirations to participate in the oil and gas industry in the state, for as long as it is within the framework of the PDA," said the company.

Petronas' decision came just a month before the Sarawak government was scheduled to assume full regulatory authorityover the upstream and downstream aspects of the industry through Petroleum Sarawak Bhd (Petros).

Sarawak Chief Minister Abang Johari Abang Openg had announced plans for Petros prior to the May 9 elections. 

At the time, he said then prime minister Najib Abdul Razak had agreed to return oil rights to the state.  

"Therefore, the state will exploit our oil and gas natural resources, which is constitutionally under the state list, as per the Ninth Schedule of the Federal Constitution," said Abang Johari. - Mkini

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