PUTRAJAYA: The Federal the Sarawak State government have signed a joint declaration to establish clear parameters and a collaborative framework for PETRONAS and Petros in the oil and gas sector, announces Datuk Seri Anwar Ibrahim

The Prime Minister stressed that PETRONAS' role remains intact and will continue to fulfil its national role, but at the same time recognises Petros' role.

"So, this understanding we’ve reached ensures that PETRONAS’ operations continue, while also recognising the role of Petros.

"Both entities will now work hand-in-hand to elevate the nation through the oil and gas industry, both upstream and downstream, as well as in various alternative energy initiatives, as outlined in our joint declaration," he said during a joint press conference with Sarawak Premier Tan Sri Abang Tun Openg on Wednesday (May 21).

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Anwar said that the joint-declaration was mainly about establishing clear parameters and ackknowledging the Petroleum Development Act 1974 and the Distribution of Gas Ordinance (DGO) 2016.

"This means that the current situation requires us to acknowledge that Sarawak has grown and now has the capacity, including establishing its own state oil company.

"Our shared aspiration, beyond just strengthening Petronas, is to position Sarawak as a launching hub for Asean.

"To me, this is a very realistic approach, and it will lead to national success, meaningful outcomes, and the elevation of Sarawak’s economic standing," said Anwar.