Sarawak to negotiate for more oil and gas royalty from Petronas

KUCHING – Sarawak will continue to negotiate with Petronas for better royalty for its oil and gas, said Chief Minister Tan Sri Adenan Satem.

He will continue to pursue the matter until there is a positive response as the oil and gas are in the waters off Sarawak.

“I have spoken to the Prime Minister (Datuk Seri Najib Tun Razak) and the others. They are open to the idea.

“But Najib told me to wait because of the current drop in oil prices in the world market,” he said at a luncheon to celebrate his first year in office.

So far, he said, Sarawak had achieved some success as Petronas had recently agreed to give RM2.1 billion of contracts to local firms.

“It is after all, the taste of the pudding is in the eating. We cannot be mere spectators, we must be participants,” he said.

On his first year in office, he said it had been a heavy responsibility and great challenge.

“But I am very fortunate to have a very good team of dedicated and experienced ministers, assistant ministers and civil servants helping me all the way through.

“If I have to choose which group to follow me to support me in facing any troubles or big challenges, I prefer this group anytime,” he said.

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