KUCHING: PETROLIAM Nasional Bhd (Petronas) is in the process of selecting a partner to co-develop its SK316 gas field in Sarawak and not wanting to sell it as reported by some media, said its president and chief executive officer Datuk Wan Zulkiflee Wan Ariffin.
“SK316 exercise is to find partners that have the technology to develop and do more explorations in that block and now we are the process of selecting our partners,” he said after it was reported that Petronas was considering selling its stake in the SK316 offshore gas block in Sarawak.
SK316 involved high sour gas and high carbon dioxide content, which were of high risk, thus requiring high technology to develop the field, he said at the signing ceremony between Petronas and Yayasan Hartanah Bumiputera Sarawak, here, on Saturday.
Sarawak Chief Minister Datuk Amar Abang Johari Tun Openg confirmed that the state government was consulted on the matter, but said it did not want to take the risk to develop the gas field.
“The project cost billions of ringgit and it is of high risk,” he said, adding that the state government practised prudent investments to ensure profitable returns.--Bernama