Petronas files application to clarify PDA 1974

KUALA LUMPUR: National oil and gas company Petronas today filed an application at the Federal Court seeking a declaration on the Petroleum Development Act 1974 (PDA) being the law applicable for the petroleum industry in Malaysia.
In a statement today, Petronas said it 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 supporting 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," it added. — Bernama