Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) has acquired a 50% stake in the MLNG Dua liquefied natural gas (LNG) plant from Royal Dutch Shell.
Financial details about the deal have not been disclosed.
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The equity, owned by Shell’s unit Sarawak Shell, was operated under a Production Sharing Contract (PSC) which had been signed with the state-owned Petronas in 1993.
The new deal has turned PETRONAS Carigali Sdn (PCSB) and its subsidiary E&P Malaysian Ventures as new PSC operators for the facility with 90% and 10% of ownership stake respectively.
It will come into effect as the previous PSC for the plant has expired on 20 August.
Petronas Upstream Malaysia senior vice president Mohd Anuar Taib said: "Petronas is committed to ensure that there will be no interruption to the supply and demand of gas and achieve stability in the operations of MLNG Dua."
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By GlobalDataThe takeover is in line with the Malaysian firm’s strategy to develop the state of Sarawak as the gas hub in the region.
The firm intends to retain the current staff and vendors for the facility, it said.
Anuar Taib said: "The 39 employees released by the previous operator are the only staff that PETRONAS can legally approach for employment offer, and 37 have accepted. They will continue performing their jobs at MLNG Dua as usual."
