From the New Straits Times – Kelantan to get RM20M in March


Taken from the New Straits Times, dateline 2010-01-27:

KOTA BAHARU: Kelantan will receive RM20 million as compassionate fund due under an oil and gas production arrangement in March.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the decision was made after discussions with the national oil corporation, Petronas, recently.

“It involves revenue from oil and gas production in the South Earth Platform, Block PM301, close to Kelantan waters. The RM20 million is five per cent of the total revenue from the block since May 2008,” he told reporters after opening a forum on the compassionate fund, here last night.

More than 5,000 people attended the forum.

Mustapa, who is also chairman of the Kelantan Umno Liaison Committee, said the Kelantan government”s claim for RM11 billion in oil royalty was extreme as the oil production was not that high.

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This entry was posted on Thursday, January 28th, 2010 at 7:17 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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