5 mem­bers al­ready ap­pointed to Petros board

New Straits Times - - Business -

KUCHING: The board of di­rec­tors of Petros, Sarawak’s whol­ly­owned oil and gas com­pany, con­sists of re­tirees from Petronas and Shell, says Chief Min­is­ter Datuk Amar Abang Jo­hari Tun Openg.

He said five mem­bers of the board, all Sarawakian, had al­ready been ap­pointed and would soon hold their first meeting to de­cide on Petros’ first chief ex­ec­u­tive of­fi­cer.

“It is in the for­ma­tive stage. The im­por­tant thing is that we must have our own ve­hi­cle (in this in­dus­try), then we will work with Petronas, par­tic­u­larly in up­stream ac­tiv­i­ties,” he said af­ter of­fi­ci­at­ing the open­ing of the In­ter­na­tional Con­fer­ence on Lan­guage Stud­ies here yes­ter­day.

Abang Jo­hari said he would in­form the state leg­isla­tive assem­bly at its Novem­ber sit­ting on the com­pany, which had been tasked to look af­ter Sarawak’s in­ter­ests in the oil and gas in­dus­try.

The chief min­is­ter an­nounced the for­ma­tion of Petros last week.

It had been re­ported that the com­pany’s for­ma­tion was an un­prece­dented step taken by the state gov­ern­ment to en­able Sarawak to ac­tively par­tic­i­pate in the ex­trac­tion of its oil and gas re­serves while still pur­su­ing its re­quest for 20 per cent roy­alty from Petronas. Ber­nama

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