KUALA LUMPUR, April 5 (Bernama) — PETRONAS Carigali Sdn Bhd (PCSB), a wholly-owned subsidiary of PETRONAS has entered into a Farm Out Agreement (FOA) with SMJ Sdn Bhd (SMJSB), a company wholly-owned by the Sabah State Government for the sale of PCSB’s 50 per cent of non-operating participating interest in the Samarang Production Sharing Contract (PSC).
The agreement was signed by PCSB’s Chief Executive Officer, Hasliza Othman and SMJSB’s Chief Executive Officer, Dr. Dionysia Aloysius Kibat. The transaction is currently pending regulatory approvals and fulfillment of conditions precedent.
