Malaysian states’ quest for control of petroleum could complicate the regulatory landscape

Dateline 2018-06-19, Offshore Technology:

The regulatory regime in Malaysia’s upstream sector, dominated by PETRONAS for 44 years as the combined National Oil Company (NOC) and regulator, may become more complex due to recent political developments.

Long-running calls for greater control of resources and revenues for oil-producing states have increased in the past few years. Even more impactful may be the outcome of a pending court case brought by PETRONAS against the Sarawak state government’s assertion of full regulatory control of the sector.

PETRONAS’ case against the Sarawak government is scheduled for a hearing on June 21, with a significant prize at stake. Sarawak holds most of Malaysia’s oil and gas reserves and is home to the country’s LNG liquefaction plants.

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