Turf war over Sarawak oil & gas resources may stump new investments

Dateline 2018-07-08, The Sun Daily:

Industry players believe that the turf war of sorts between Petroliam Nasional Bhd (Petronas) and the Sarawak state government is likely to affect new investments into the state’s oil and gas sector more than existing players in the market.

A senior analyst who spoke to SunBiz on condition of anonymity said those who are already operating in the state might not see much of an impact at this juncture, but it is best for fresh entrants to take on a wait-and-see approach as the matter unfolds.

Kenanga Research in its note to investors last Thursday said it expects the ongoing tussle between Petronas and state-owned Petroleum Sarawak Bhd (Petros) to continue with anticipation of Petronas pursuing a court case, although this might delay the awards of Production Sharing Contracts (PSC) in the state.

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