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PETRONAS today has filed an application before the Federal Court seeking for a declaration on the Petroleum Development Act 1974 (PDA) being the law applicable for the petroleum industry in Malaysia, and that PETRONAS is the exclusive owner of the petroleum resources as well as the regulator for the upstream industry throughout Malaysia, including in Sarawak.
PETRONAS believes that the determination by the Federal Court would help provide clarity on its rights and position under the PDA. PETRONAS remains committed to support Sarawak’s aspiration to participate in the oil and gas industry in the State, for as long as it is within the framework of the PDA.
