Hess Malaysia, Petronas Carigali amend gas sales agreement with Petronas
Hess Malaysia and its partner, Petronas Carigali Sdn Bhd, a subsidiary of Petronas, had successfully concluded negotiations with Petronas to amend the Upstream Gas Sales Agreement (UGSA) of the PM302 Production Sharing Contract (PSC).
In a statement, Hess Malaysia – a leading global energy company – said the agreement was amended to include the sale and purchase of gas produced by the Kangsar field as well as gas produced from any future PM325 PSC field under the existing UGSA terms.
Its vice-president, Zhiyong Zhao said the amended UGSA was an important milestone for the ongoing development of the North Malay Basin (NMB) project as it delivers access to new gas supplies that are critical to Malaysia’s economic prosperity and energy security.
