Petronas, Hess said agreed to amend gas sale agreement

Dateline 2021-06-07, The Edge:

Petroliam Nasional Bhd (Petronas) and US-based Hess Corp’s subsidiary Hess Malaysia are said to have agreed to amendments made to their existing upstream gas sales agreement (UGSA) to include the sale and purchase of gas produced from the North Malay Basin (NMB) oil and gas field located offshore Peninsular Malaysia.

In a statement today, Hess Corp said the UGSA governs the sale and delivery of gas from the NMB project to Petronas and helps Hess Corp meet its supply and sale commitments in Peninsular Malaysia.

Zhiyong Zhao, vice president of Hess Asia, said in the statement: “The amended UGSA delivers access to new gas supplies that are critical to Malaysia’s economic prosperity and energy security.”

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: