Petronas-Adnoc agreement reflects Malaysia's international relations with various countries, says PM

Quick Summary:

After a successful evaluation phase, partners can enter a production concession, in which Adnoc has the option to hold a 50% stake.

Petronas will hold a 100% equity and control to explore and evaluate unconventional oil in the concession area for a period of up to six years.

Anwar, who is also the finance minister, said he welcomes the historic agreement and has full confidence that local companies and talents would be able to take the lead and explore ideas and opportunities to compete at the global level.

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Article Details

Category: InvestingFinance

Markets: Malaysia

Topics: Agreement Signing Petronas International Dhabi (dec Cooperation Explore Relations Reflection Concession

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-06 @ 13:27:12 (2 months ago)

News Timezone: GMT +8:00

Ranking: #1367 (out of 11547 stories this day)

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Language: English

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Copyright Owner: © The Edge Markets

News ID: 2195400

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