Petronas takes over Shell’s stake in MLNG Dua
Sarawak Shell Berhad, a unit of Shell, has handed over its 50 percent stake of MLNG Dua to Malaysia’s Petronas.
Previously, MLNG Dua was operated by Shell via a production sharing contract signed with Petronas in 1993.
With this handover, Petronas subsidiaries PCSB and EPMV now own 90 percent and 10 percent equity respectively as PSC operators. The previous PSC expired August 20, Petronas said in a statement on Friday.
“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,” said Petronas Senior VP Upstream Malaysia, Mohd Anuar Taib.
LNG World News Staff; Image: JGC