Published: Monday December 13, 2010 MYT 2:24:00 PM
Updated: Monday December 13, 2010 MYT 3:41:59 PM
M’sia, Brunei ink historic pact for joint oil exploration in South China Sea
By STEPHEN THEN
BANDAR SERI BEGAWAN: Malaysia and Brunei inked a historic agreement Monday that will see their national petroleum companies taking part in joint exploration and production of oil and gas in two deepwater blocks in the South China Sea along their shared maritime boundary.
The deal will last for 40 years and is expected to rake in oil and gas revenues worth billions for both countries.
The signing on Monday between Petronas and Brunei National Petroleum Company was witnessed by Malaysian Prime Minister Datuk Seri Mohd Najib Tun Razak and Brunei’s Sultan Hassanal Bolkiah.
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