“We are optimistic of a positive outcome with regard to matters relating to the oil industry, which is critical for the socio-economic sustainability in north and south Sudan,” a Petronas official said in response to queries from StarBiz.
“As a responsible business entity, Petronas has in place steps and measures to protect and safeguard its people, assets and resources, wherever it operates,” the official said.
The anxiety over the future of Petronas' operations in Sudan arose after the south voted to split from the north in a referendum conducted in January.
The official results of the vote, released earlier this week and confirmed early reports of overwhelming support for the split, showed nearly 99% of the people in the south wanted independence from the north.
The secession of south Sudan is expected to be formalised in July and a number of issues are yet to be sorted out, chief among them the petroleum revenue rights of the north to the oil fields in the south.
Petronas has been in Sudan since 1997 after being invited by the country to pursue exploration and development works in two concession areas.
The national oil firm said that part of its success as a long-term investor in Sudan could be attributed to its “long-term view and commitment, values and professionalism”.
“We believe the same would carry us through moving forward post-referendum,” the Petronas official said.
Petronas has long-term ties with Sudan President Omar Hassan al-Bashir and now it has to build a similar relationship with authorities in the south ahead of the secession.
“In Sudan, we are closely monitoring the development with regard to the referendum, and we have been taking adequate steps and actions to best serve our rights and interests,'' the Petronas official said.
“At the same time, we have had and are in continuous discussions and high-level engagements with all relevant officials and parties, including with the government of south Sudan, on our intention and way forward in growing our business,” the official said.
Sudan is an important cog in Petronas' international operations. Last year, Sudan's production of crude oil accounted for 26% of the total international output in barrels of oil equivalent.
In 2010, international operations were the largest contributor to Petronas' revenue at RM98.1bil or 45.3% of total revenue. Petronas' total revenue for its 2010 financial year was RM216.4bil.