Sarawak govt endorses Petros award of oil exploration to Petra Energy

KUCHING, June 18 — The state government has endorsed the conditional award by state-owned Petroleum Sarawak Berhad (Petros) for Sarawak onshore block SK 433 to Petra Energy Development Sdn Bhd, a wholly-owned subsidiary of Petra Energy, and its joint venture partner, Uzma Engineering Sdn Bhd,  a wholly-owned subsidiary of Uzma Berhad.

In a statement today, the Chief Minister's Office (CMO) said the award is the result of a competitive bidding exercise that was managed by Petros since January this year.

The CMO said this is a significant milestone for Sarawak as it looks forward to the resumption of active exploration and production activities onshore.

"After a lapse of several years, Petros, as the state-owned petroleum company, will be the one stop centre for the state and playing the role of resource regulator and manager," the CMO said.

It added that the award signifies — as a milestone — the “operationalisation” of the state government’s control of oil mining and exploration in all the onshore areas of the state, pursuant to the Commercial Settlement Agreement (CSA) between the state government and Petroliam Nasional Berhad (Petronas)  signed on  Deceber 7 last year.

Block SK 433 covers the Miri-Marudi area in Northern Sarawak

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