The Gazprom Headquarters today has hosted a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Wan Zulkiflee Wan Ariffin, Vice-President (Gas Business) of Petronas.

The parties reviewed the prospects for cooperation between the companies in the oil & gas sector, placing a focus on the possibility of signing a Memorandum of understanding and subsequently establishing working groups for various directions of cooperation. The parties plan to pursue all-embracing cooperation in the oil & gas sector by executing joint projects in Russia, Malaysia and third countries.

The meeting also pondered on matters of interaction while exploring and developing oil and gas fields in Central Asia; the outlook of mutually beneficial partnership in the LNG production and supply sector; joint businesses within underground gas storage construction projects.

Reference:

As at January 1, 2005, Malaysia’s proved natural gas reserves account for 2.46 tcm.

Malaysia annually extracts and consumes some 60 bcm and 33.2 bcm of gas, respectively. The country’s primary energy mix is comprised of natural gas (49 per cent), oil (39 per cent), coal (10 per cent) and hydropower (2 per cent).

Petroliam Nasional Berhad (Petronas) state run oil & gas corporation of Malaysia was founded in 1974. The corporation is fully owned by the state and holds the monopoly on the use of Malaysia’s hydrocarbon resources. Currently, Petronas is a top-down company with operations in 31 countries.

The company deals with exploration and development of oil and gas fields, extraction and processing of oil and gas, marketing of petroleum products, natural gas and LNG, operation of pipelines, deliveries of oil, gas and their derivatives.

Gazprom is engaged within the consortium with TotalFinaElf and Petronas in phases 2 and 3 of the South Pars field project.