Malaysia’s Petronas signs transition agreement for South Sudan blocks
By Jason Ng of Dow Jones Newswires
Global Deal: Petronas Signs South Sudan Deal to Continue Existing Operations
KUALA LUMPUR – Petroliam Nasional Bhd., or Petronas, said it has signed an agreement with the government of South Sudan that allows it to continue operations it began prior to the country’s 2011 independence from Sudan.
The agreement grants the Malaysia’s state oil and gas company and its partners the right to conduct petroleum-related operations in upstream blocks in Sudan secured under previous exploration and production-sharing agreements, Petronas said in a statement dated Jan. 14.
Petronas’s partners include India’s Oil & Natural Gas Corp., China National Petroleum Corp., China Petroleum & Chemical Corp. and the Cairo-based unlisted Tri-Ocean Energy, the company said.
Petronas is participating in South Sudan exploration and production via a 30% stake in Greater Nile Petroleum Operating Company Ltd, a 40% stake in Petrodar Operating Co. and 67.87% of White Nile Petroleum Operating Company Ltd., it said.
Malaysia’s Petronas signs transition agreement for South Sudan blocks
Sydney (Platts)–16Jan2012/719 am EST/1219 GMT
Malaysia’s state-owned Petronas and its partners have signed a transition agreement with the government of the Republic of South Sudan that enables them to continue operating in upstream blocks in South Sudan previously awarded by the government of the Republic of the Sudan, the company said Saturday.
The agreement grants Petronas and its partners the rights to conduct petroleum operations in three contract areas: blocks 1, 2 and 4; blocks 3 and 7; and block 5A. The contract areas had previously been secured under exploration and production sharing agreements.
Petronas subsidiaries hold stakes of 30%, 40% and 67.87% respectively in the three contract areas. The company’s partners are China National Petroleum Corporation, Oil and Natural Gas Corporation, China Petroleum & Chemical Corporation and Tri-Ocean Energy.
Petronas said it has been active in the petroleum industry in the Republic of the Sudan since long before the secession of the Republic of South Sudan in July 2011.
Apart from protecting Petronas’ rights and investments in the existing contract areas, the transition agreement paves the way for an enhanced, mutually beneficial relationship between the joint venturers and the government of South Sudan, the company added.
–Christine Forster, christine_forster@platts.com
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8802479
Petronas Scholarship for 8 South Sudanese Undergraduate Students
Education Minister Hails Petronas Assistance
Ater Garang Ariath
22 December 2011
Juba — The Minister of Higher Education, Science and Technology Dr. Peter Adwok Nyaba hailed the developmental assistance of Petronas oil company in South Sudan which gave scholarship awards to eight South Sudanese undergraduate students to Malaysia.
South Sudan needs help in order to improve the facilities of higher education learning and therefore we deeply appreciate your sponsorship to our students and we expect you to assist the Ministry to improve the standard of the five public universities, said Nyaba.
Petronas since its inception in South Sudan overwhelmingly took cooperation and social responsibilities to work hand in hand with our country leadership seeking good ways to help South Sudanese people, Nyaba added.
He called upon South Sudanese students to use wisely the golden opportunity that guarantees them going to study in another country pointing that Malaysia and South Sudan share similarities.
Malaysia is an important partner for the development of South Sudan and we should learn from them a lesson, adding that “knowledge and its application” is driving power for Malaysia development. Nyaba further pointed that the leadership of Malaysia was credible for democracy.
Meanwhile the Deputy Minister of Petroleum and Mining Elizabeth James Bol said that Petronas is an Oil Company in South Sudan that works for wellbeing of South Sudanese.
This company strives to make development a reality in South Sudan through focusing on improving and strengthening human resource to the country and pointed out that two South Sudanese students had already graduated through Petronas sponsorship.
The Vice President of Petronas Human Resource Management Juniwati Rahmati affirmed commitment of the company to offer more scholarships to South Sudan and confirmed this on Tuesday in the occasion Petronas organized in its headquarters.
http://allafrica.com/stories/201112220311.html
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