Oil giant ConocoPhillips’ pullout from US$3.1b Sarawak project a fallout of state’s rift with Petronas


Dateline 2025-04-29, Channel News Asia:

KUALA LUMPUR: A protracted rift between Malaysia’s national oil corporation Petronas and the Sarawak state government appears to be causing investor disquiet following a surprise withdrawal by United States oil firm ConocoPhillips from an oil project off the Borneo coast.

In a little-publicised surprise move this month, ConocoPhillips decided to withdraw from operating the Salam-Patawali deepwater oil and gas field that the company discovered in 2018 with Petronas in a 50-50 joint venture that was expected to cost RM13.7 billion (US$3.13 billion).

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This entry was posted on Wednesday, August 27th, 2025 at 9:00 am and is filed under 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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