Source: STEPHEN THEN (The Star Online)
BANDAR SERI BEGAWAN: Malaysia and Brunei have taken a step forward to explore the possibility of oil and gas joint ventures in the maritime territories they both share, although details have yet to be worked out.
This followed a “highly successful meeting” between Malaysian Prime Minister Datuk Seri Najib Tun Razak and the Sultan of Brunei, Sultan Hassanal Bolkiah, who is also the Prime Minister.
A very happy-looking Najib told a press conference Thursday that his private meeting with the Sultan in conjunction with the two countries’ 13th annual consultation had ended on a “very satisfactory” note.
“This annual meeting has achieved very satisfactory results. The Sultan said he looks forward to greater levels of cooperation between us.
“The agreement between our two countries to settle the land and maritime boundary demarcation is one of the big milestones ... that will bring our bilateral relationship to new heights,” he said.
The boundary issue has been agreed to in principle, he said. There was still a large section of land at the Sarawak-Brunei that needed to demarcated and a topographical survey had to be conducted.
“The agreement (on the land and maritime boundary demarcation) will be final. The possibility of joint exploration (for oil and gas) will be worked out later,” Najib said.
Malaysia has proposed a role for its national oil and gas company Petronas in the joint venture, although that role had yet to be worked out, he told reporters before concluding his three-day official visit to this oil-rich sultanate.
He declined to give details on Petronas’ proposed role.
In March, Malaysia and Brunei had agreed in principle to resolve outstanding overlapping claims on the land and maritime boundary covering Limbang, a division in Sarawak sandwiched by the two borders of Brunei, following a meeting between the then Prime Minister Tun Abdullah Ahmad Badawi and the Sultan.
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