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21/4/2011
PETRONAS SIGNS UNITISATION AGREEMENT WITH MALAYSIA-THAILAND JOINT AUTHORITY
PETRONAS has signed a Unitisation Agreement with the Malaysia-Thailand Joint Authority (“MTJA”) for the gas field straddling across Block PM 301 in the northeast coast of Peninsular Malaysia and Block A-18 in the Malaysia-Thailand Joint Development Area.
The Unitisation Agreement for the Bumi field in Block PM 301 and the Bumi South field in Block A-18 firms up the Heads of Agreement signed between the two parties in January 2008.
The Unitisation Agreement gives PETRONAS rights to the reserves in the unitised area, which has an estimated ultimate recovery of 1.252 trillion standard cubic feet of gas. The Agreement augurs well with PETRONAS’ efforts towards ensuring the sustainability and security of national gas production and supply.
The signing ceremony for the Unitisation Agreement was held today in Kuala Lumpur. PETRONAS was represented by its Vice President of Petroleum Management Encik Ramlan A. Malek, and MTJA by its Chief Executive Officer Mr. Suriyan Aphiraksatyakul.
Gracing the occasion were Tan Sri Mohd Nor Mohamed Yakcop, Minister in the Prime Minister’s Department of Malaysia and Dr. Wannarat Charnnukul, Minister of Energy of Thailand. Also present were the MTJA Co-Chairmen, Tan Sri Khalid Ramli and Mr. Nopadon Mantajit, as well as PETRONAS Executive Vice President Exploration and Production, Dato’ Wee Yiaw Hin.
Issued by
Corporate Communications Department
Corporate Services Division
PETRONAS
21 April 2011
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