Malaysia and Brunei formalise unitisation agreement for two offshore fields

Malaysia and Brunei formalise unitisation agreement for Gumusut-Kakap and Geronggong-Jagus East Offshore Fields

Malaysia and Brunei formalise unitisation agreement for two offshore fields

Malaysia, through its national oil company PETRONAS, today formalised a Unitisation Agreement (UA) with the Government of  Brunei Darussalam for the Gumusut-Kakap and Geronggong-Jagus East fields which straddle along the Malaysian-Brunei maritime boundary.

The formalised UA firmly attests the continuing collaboration between Malaysia and Brunei and establishes the platform for the joint development of the fields by PETRONAS and the National Unitisation Secretariat (NUS) of Brunei to further enhance the value derived from these assets for both countries.

The formalisation took place at Istana Nurul Iman in Bandar Seri Begawan during the 23rd Malaysia-Brunei Annual Leaders’ Consultation, witnessed by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of  Brunei Darussalam and Yang Amat Berhormat Tan Sri Muhyiddin Yassin, Prime Minister of Malaysia.

Also present were PETRONAS President and Group Chief Executive Officer Tengku Muhammad Taufik Tengku Kamadjaja Aziz, PETRONAS Executive Vice President and Chief Executive Officer of Upstream Adif Zulkifli and PETRONAS Senior Vice President of Malaysia Petroleum Management Mohamed Firouz Asnan. Brunei Darussalam was represented by its Acting Minister of Energy, Yang Mulia Dato Seri Paduka Awang Haji Matsatejo bin Sokiaw.

Tengku Muhammad Taufik said:

“Today’s signing is indeed a testament to the synergy between PETRONAS and the Ministry of Energy, Brunei Darussalam, and embodies yet another step towards strengthening our long-standing relationship for greater shared success. Having now formalised this landmark agreement, PETRONAS believes that both parties can look forward to continuing the strong momentum towards developing our nations’ energy sectors for the long-term growth and prosperity of both Brunei and Malaysia.”