Malaysia, Brunei agree on oil cooperation

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Brunei oil and gas fieldsMalaysia and Brunei have inked historic deals to jointly drill for oil and gas in the resource-rich waters off the maritime border shared by the two nations, between the northern parts of Sarawak, Brunei and Sabah, The Star reported.

The national oil companies of the two countrres, Petronas and Petroleum Brunei,  also agreed on a deal to explore for shale gas in a joint project in Canada.

Prime Minister Datuk Seri Mohd Najib Tun Razak told a press conference on December 8 that significantly large oil and gas deposits have been discovered in new exploration fields off the Sarawak-Brunei-Sabah region.

“The collaboration between Petronas and Brunei has been very positive as three days ago, we found a new gas field, CA2, that is big. It has been found to be commercially viable, with sizeable gas, that will boost the gas reserves. Petronas will also be looking at exploration of oil and gas in blocks N and Q in shallow waters, and also will be involved in increased activities in the field at CA1,” Najib said.

Asked on the exact locations of the new oil and gas fields and how much they were worth in terms of revenue, Najib declined to reveal details but would only say that “there is more on the Sabah side”.

Bilateral trade between Brunei and Malaysia increased by 13.9 per cent in 2012. Total trade amounted to $757.1 million in 2012.

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Reading Time: 1 minute

Malaysia and Brunei have inked historic deals to jointly drill for oil and gas in the resource-rich waters off the maritime border shared by the two nations, between the northern parts of Sarawak, Brunei and Sabah, The Star reported.

Reading Time: 1 minute

Brunei oil and gas fieldsMalaysia and Brunei have inked historic deals to jointly drill for oil and gas in the resource-rich waters off the maritime border shared by the two nations, between the northern parts of Sarawak, Brunei and Sabah, The Star reported.

The national oil companies of the two countrres, Petronas and Petroleum Brunei,  also agreed on a deal to explore for shale gas in a joint project in Canada.

Prime Minister Datuk Seri Mohd Najib Tun Razak told a press conference on December 8 that significantly large oil and gas deposits have been discovered in new exploration fields off the Sarawak-Brunei-Sabah region.

“The collaboration between Petronas and Brunei has been very positive as three days ago, we found a new gas field, CA2, that is big. It has been found to be commercially viable, with sizeable gas, that will boost the gas reserves. Petronas will also be looking at exploration of oil and gas in blocks N and Q in shallow waters, and also will be involved in increased activities in the field at CA1,” Najib said.

Asked on the exact locations of the new oil and gas fields and how much they were worth in terms of revenue, Najib declined to reveal details but would only say that “there is more on the Sabah side”.

Bilateral trade between Brunei and Malaysia increased by 13.9 per cent in 2012. Total trade amounted to $757.1 million in 2012.

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