Friday, October 28, 2011

Petronas licence for all O&G upstream biz in Malaysia

KUALA LUMPUR: Petroliam Nasional Bhd has categorically stated that all companies wishing to start or continue any business or service related to Malaysia's oil and gas upstream operations and activities must apply for a licence from the national oil company.

Petronas said on Friday, Oct 28 that the policy, enforced under the regulations following the enactment of the Petroleum Development Act, 1974, has not changed, and 'applies to all local and foreign companies, service providers and suppliers'.

It was responding to recent media reports claiming that Petronas had decided 'to do away' with its licensing system for companies involved in Malaysia's upstream O&G industry.

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