PETRONAS CLOSELY MONITORING DEVELOPMENTS IN MIDDLE EAST

By Siti Radziah Hamzah

KUALA LUMPUR, March 3 (Bernama) -- Petroliam Nasional Bhd (Petronas) is closely monitoring the developments in parts of the Middle East with concern and remains fully committed to ensuring the safety, security and welfare of its employees, dependents, as well as its contractors who are supporting its operations across the region.

The national oil firm said it is actively coordinating with Malaysia’s Ministry of Foreign Affairs, Malaysian Embassies, other embassies, local authorities, and relevant agencies to assess the situation and take appropriate precautionary measures.

“At the time of writing, there are no reports of any direct threats to Petronas personnel or assets, and operations continue as usual,” it said in an emailed response to Bernama. 

Petronas has significantly expanded its Middle Eastern footprint over the years as a lead operator in the United Arab Emirates (UAE) and Oman while maintaining production in Iraq.

In Oman, Petronas’ wholly-owned subsidiary, PC Oman Ventures Ltd has signed a concession agreement with the Government of the Sultanate of Oman and OQ Exploration and Production Batinah Offshore LLC as its partners for the exploration of oil and gas in Block 18.

Spanning more than 21,000 km², Block 18 is a large offshore exploration area located in Northeast Oman, offering significant frontier exploration potential across diverse geological settings, from shallow to ultra-deep water.

Additionally, in 2024, Petronas won an oil and gas exploration concession for the Onshore Block 2 located within the Al Dhafra region of Abu Dhabi. 

At the time of writing, Brent crude jumped 4.35 per cent to US$81.12 per barrel

-- BERNAMA