Petroliam Nasional Bhd (Petronas) has fully taken over Malaysia LNG Dua Sdn Bhd (MLNG Dua) from Sarawak Shell Bhd (Shell), who had a 50% equity stake in the firm.
In a statement, Petronas said hand-over of Shell’s equity stake was officiated in a ceremony yesterday, and thus its unit Petronas Carigali Sdn Bhd (PCSB) now owns 90% stake in MLNG Dua, while the remaining 10% is held by PCSB’s subsidiary, E&P Malaysian Ventures Sdn Bhd (EPMV).
Consequently, PCSB and EPMV are now the operators of MLNG Dua.
Previously, MLNG Dua was operated by Shell via a production sharing contract (PSC) signed with Petronas in 1993. The PSC expired yesterday.
“Petronas would like to thank Shell for all the work they have done at MLNG Dua and Petronas will continue to emulate and improve the previous operating philosophy for the MLNG Dua offshore facilities during this time that Petronas is entrusted to do so,” Petronas senior vice-president upstream for Malaysia, Datuk Mohd Anuar Taib, said.
“Petronas is committed to ensure that there will be no interruption to the supply and demand of gas and achieve stability in the operations of MLNG Dua,” he added.
Petronas said it views the takeover as a positive addition to PCSB’s ongoing efforts to position Sarawak as the gas hub in the region.
“Petronas will continue to support all long-term initiatives for the betterment of the state and its community,” Mohd Anuar said.
Mohd Anuar also said Petronas intends to maintain the current staff and vendors as well as their original positions.
Petronas have approached and offered employment opportunities to all 39 staff released by Shell, of which 37 of them accepted the offer, said Mohd Anuar.
“The 39 employees released by the previous operator are the only staff thatPetronas can legally approach for employment offer, and 37 have accepted. They will continue performing their jobs at MLNG Dua as usual,” he said, adding that the employees who did not accept the offer made their decision based on personal reasons.
Currently, Petronas’ gas operation in Sarawak ranges from well, platform and pipeline as well as terminal operations.