POSSIBILITY OF BIGGER CHANCES FOR PETRONAS IN BRUNEI`S OIL AND GAS FIELD, SAYS NAJIB

From Hamdan Ismail

BANDAR SERI BEGAWAN, Dec 13 (Bernama) -- There is possibility that Petronas
could get even bigger opportunities in the future to participate in the
development of two blocks in Brunei sea that are rich with gas and petroleum
reserves.

Prime Minister Najib Razak said this following the signing of a production
sharing agreement (PSA) for Block CA2 between Petronas and Brunei National
Petroleum Company Sdn Bhd (PetroleumBRUNEI) here Monday.

The deal was sealed during a closed door ceremony held at the Istana Nurul
Iman Palace witnessed by the Sultan of Brunei, Sultan Hassanal Bolkiah
Mu'izzaddin Waddaulah.

Petronas President and Chief Executive Officer Shamsul Azhar Abbas
represented the Malaysian national oil company while PetroleumBRUNEI was
represented by its Acting Chief Executive Officer, Azren Taib.

At a press conference after the ceremony, Najib said Sultan Bolkiah
also greatly welcomed the engagement of the two companies.

"His Majesty expressed satisfaction with the understanding that has been
reached and of the possibility that Petronas could be given more bigger chances
in the future," Najib said.

He said that during his one-to-one meeting, Sultan Bolkiah had also
expressed his intention to expand Brunei's investment in the east Malaysian
states of Sabah and Sarawak and in Iskandar Malaysia, besides continuing its
investments in a leading hotel located in the Kuala Lumpur Convention Centre
(KLCC) area.

Najib said dialogues and discussions would continue to be held at
ministerial level from both countries with the view to enhancing links between
Sabah, Sarawak and Brunei and cross-border travel for both the people of Brunei
and Malaysia.

Meanwhile, Shamsul Azhar told reporters that the PSA with PetroleumBRUNEI
for Blok CA2 involved a period of 40 years.
-- BERNAMA