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Malaysia, Brunei formalise unitisation agreement for two offshore fields April 5, 2021, by Bojan Lepic
Malaysia, through its national oil company Petronas, has formalised a unitisation agreement (UA) with the Government of Brunei Darussalam for the Gumusut-Kakap and Geronggong/Jagus East fields.
The Gumusut-Kakap and Geronggong/Jagus East fields straddle the Malaysian-Brunei maritime boundary.
Petronas said that the formalised UA attests the continuing collaboration between Malaysia and Brunei and establishes the platform for the joint development of the fields by Petronas and the National Unitisation Secretariat (NUS) of Brunei to further enhance the value derived from these assets for both countries.
The formalisation took place during the 23rd Malaysia-Brunei Annual Leaders’ Consultation at the capital of Brunei – Bandar Seri Begawan. The UA signing was attended by the Sultan of Brunei