KUALA LUMPUR (December 7): Petroliam Nasional Bhd (Petronas) and the Sarawak State Government today signed a trade agreement on issues related to the turnover tax and oil production. Tan Sri Muhyiddin Yassin welcomed the agreement to resolve the issue of the management of the D of the state through a trade agreement, he said. Meanwhile, Sarawak`s deputy first chief of government, Datuk Awang Awang Tengah Ali Hasan, said the signing of the trade agreement would open the door to the rebirth of land mining in Sarawak, the only place in Malaysia where upstream oil activities took place. Petrona`s president and Tengku group leader Muhammad Taufik Tengku Aziz said the trade deal would create a framework between the national oil company and the state government, which would involve sarawak more actively in its onshore oil and gas activities by Le Petroleum Sarawak Bhd (Petros). In a statement today, Jeffrey, who is also chairman of the Solidarity Tanah Airku Party (STAR), said that the agreement shows that Prime Minister Tan Sri Muhyiddin Yassin is still committed and sincerely giving Sabah and Sarawak their rights under the 1963 agreement on Malaysia (MA63). PMO said the agreement and cooperation between the two sides to seal the trade agreement really show the federal government`s commitment to solving the problem with the Sarawak government. KUALA LUMPUR (December 7): Today`s trade agreement between the Sarawak government and Petroliam Nasional Bhd (Petronas) will open a new chapter in efforts to stimulate the development of the oil and gas industry (O-G), including the creation of various business opportunities and the development of industries related to Sarawak, as indicated by the Office of the Prime Minister (PMO). KOTA KINABALU (December 8): Sabah Deputy Chief Minister Datuk Seri Dr Jeffrey Kitingan congratulated the Sarawak government for successfully signing a trade agreement with Petronas yesterday. Sarawak Secretary Datuk Amar Jaul Samion (left) and Tengku Muhammad Taufik showed documents from the trade agreement at the signing ceremony attended yesterday by Sarawak`s Chief Minister Datuk Patinggi Abang Johari Tun Openg and Muhyiddin in Kuala Lumpur yesterday. – Bernama Photo PMO said that the agreement reached would allow Petroleum Sarawak Bhd (Petros), a subsidiary of Sarawak, to play a greater role in the O-G sector by working with Petronas.
“During its meeting today, the Advisory Committee was briefed on the scope and essential characteristics and conditions of the economic regime, as well as the significant benefits and benefits that the state would derive from the agreement.