MALAYSIA MULLS JOINT OIL EXPLORATION WITH BRUNEI

BANDAR SERI BEGAWAN, Aug 6 (Bernama) -- Malaysia has proposed to Brunei the
possibility of embarking on joint oil exploration in the territorial waters of
both countries.

Prime Minister Najib Tun Razak said Thursday the Malaysian side was
also looking at various aspects, including the role of the national oil
corporation, Petronas, which would be worked out within the framework of the
Malaysia-Brunei Letters of Exchange (LoEs) pertaining to the demarcation of land
and maritime borders.

"I don't want to go into specifics but the Brunei side is aware of some of
the things that we would like them to take into account," he told Malaysian
journalists at the conclusion of his three-day official visit here to attend the
13th annual leaders' consulation between the two countries.

He said the proposal was among the consequential matters following the
signing of the LoEs on March 16 in which he and Sultan Hassanal Bolkiah
reaffirmed their commitment to work together towards the expeditious
implementation of elements agreed upon in the document.

"The important thing is that there is a principal agreement on both land and
maritime border issues so we can now move forward and not allow that to get in
the way of improving bilateral ties," he said, adding that the survey of the
demarcation work on the ground might take some time due to the long boundary.

On the various proposed collaborations between the two countries, including
the energy, hydro, halal hub, Islamic banking, oil palm cluster and tourism
sectors, Najib said the cabinet ministers had been tasked to discuss such
matters with their Brunei counterparts, and Foreign Affairs Ministry (Wisma
Putra) and Foreign Minister Anifah Aman would then coordinate things.

"I think there is a desire to make things happen quickly and I am hoping
that by the time the next consulation takes place in Malaysia we can talk about
other new things, so we want speedy development that would be very tangible," he
said.

Describing his visit as a "big milestone" in achieving new heights in terms
of bilateral ties, he said, the four-eye annual meeting emphasised economic
integration, including investment potentials for Brunei investors in the Sarawak
Corridor of Renewable Energy, (Score), Sabah Development Corridor and Iskandar
Malaysia in Johor.

He said Malaysia was also open to opportunities for investment in Brunei as
Malaysian companies were strong in the construction industry besides having
expertise in niche areas, including Information Communication Technology (ICT)
and the services sector.

"At the same time, Brunei and Malaysia are exploring markets for joint third
country investments," he said, adding that tourists from Brunei currently
accounted for third placing in terms of arrivals to the country.

In the "people-to-people" perspective, Najib said, both countries were also
looking at marketing tourism, especially from Sarawak and Sabah, as the
prospects were even better for the flow of people, products and services.

The prime minister said the various routes taken, whether by land, sea
or
air, ways to increase flight frequencies, including using smaller aircraft,
or through introduction of ferry services and land communication so that the Pan
Borneo highway concept could become a reality would be examined.

"Certainly all these things, such as reducing time at entry check points,
will really help our people between the two countries. That is the ultimate," he
said.

Earlier, Najib and eight federal ministers, including Information
Communication and Culture Minister Dr Rais Yatim, who were part of
the Malaysian delegation, joined Sultan Hassanal Bolkiah for an early morning
walk at the Tasek Lama Resort Garden here.

-- BERNAMA