Penyelesaian Petronas-Petros masih samar, kata penganalisis

Analysts report that the resolution between Petronas and Petros remains stalled, highlighting unresolved fundamental legal and commercial issues in the case before the Federal Court, according to economist Harridon Suffian. The Edge previously reported that the dispute might be nearing completion, citing sources familiar with the matter.

However, Harridon from Universiti Kuala Lumpur emphasized that issues such as the extent of Sarawak's control over its oil and gas resources and financial returns to the state are still unresolved. Throughout the past two years, multiple claims have repeatedly emerged about the dispute either being concluded or nearly finalized.

Harridon Suffian told FMT, "The current issue is still very similar to previous disputes, focusing on the extent of control, privileges, fields, and oil and gas exports beyond Malaysia's East Coast." The dispute also involves financial returns Sarawak seeks, with the state demanding significant increases based on its revenues and production.

However, Harridon noted that Petronas rejects the proposed figures due to their significant impact on the company's revenue structure. Sarawak seeks greater control over its oil and gas resources through Petros, including the appointment of a state-owned company as the gas aggregator for the domestic market. Petronas continues to assert its national power and responsibility under the Petroleum Development Act 1974 (PDA).

While Sarawak announced discussions on the fundamentals were completed in November 2024, with final confirmation from Petronas expected soon, discussions continued afterward. In early 2025, Prime Minister Anwar Ibrahim also stated that the issue was resolved when Petronas maintained its national role, while Petros was designated as Sarawak's gas aggregator.

This understanding led to a joint declaration signed in May 2025, officially designating Petros as Sarawak's gas aggregator while reaffirming Petronas' role under PDA. This statement also affirmed that both federal and Sarawak petroleum-sharing laws would coexist, detailing the framework for their future work. However, Harridon stressed that this did not end the dispute; it was merely a broad political framework to drive both parties toward resolution.

In January, Petronas brought the matter to the Federal Court seeking clarification on laws governing its operations in Sarawak, highlighting existing disparities in revenue-sharing requirements. The following month, Sarawak filed its own petition in the same court to challenge and continue the use of several federal petroleum laws, including the PDA, the Land Reclamation Act 1966, and the Petroleum (Exploration) Act 1966.

In March, the Federal Court ruled in favor of Petronas to continue challenging its charter. By June, Anwar announced several key issues were resolved, and a final agreement was expected soon. Harridon explained that any concrete agreement would likely need to address the amount of gas to be allocated to Petronas and Petros. He added that the final stage of discussions might specify royalties or financial value to be received by Sarawak.

According to him, the fact that both parties brought the matter to the Federal Court shows political understanding but does not mean the fundamental legal and commercial issues were resolved. The economist concluded that political understanding alone does not equate to resolving the core legal and commercial problems, as many key issues remain unresolved, as evidenced by the ongoing court case.