BANDAR SERI BEGAWAN: Malaysia and Brunei have reiterated their commitment in further strengthening cooperation in the oil and gas sector and instructed their relevant officials to discuss the financial and operational modalities.
The discussion will include the efficent development of any straddling fields with a view to formalizing an arrangement as soon as possible.
In a joint statement here yesterday after the 15th Annual Leaders’ Consultation between Malaysia and Brunei at Istana Nurul Iman, Malaysia’s Prime Minister Datuk Seri Najib Tun Razak and Sultan Hassanal Bolkiah of Brunei said they were encouraged that the existing cooperation between the national petroleum authorities of the two countries had been proceeding well.
They also expressed satisfaction with the signing of a Memorandum of Understanding (MoU) between Petroleum Brunei and Petronas on cooperation in the oil and gas sector.
“In this regard, both national petroleum authorities will work on a joint undertaking in Brunei Darussalam’s Block N under the framework of a production sharing contract,” said the statement.
Both leaders also noted that the MoU on the Joint Demarcation and Survey of the Land Boundary and its Terms of Reference were close to being finalised.
“The leaders looked forward to its speedy conclusion by the Joint Brunei Darussalam-Malaysia Land Boundary Committee to enable both sides to commence work on the joint demarcation and survey of the land boundary by the end 2011,” the statement said.
During the consultation, both leaders discussed the construction of a bridge spanning the Pandaruan River and reviewed decisions made at the 14th Annual Consultation.
“In their desire to further strengthen relations and bring the people of the two countries closer together, the leaders agreed that the bridge would be build jointly by the government of both countries and its construction is without prejudice to the final outcome of the joint land border demarcation between the two countries.
“The leaders also agreed that a groundbreaking ceremony to officiate the project site for the bridge by Brunei Minister of Communications and Malaysia’s Works Minister will take place on Sept 13 2011 in Temburong, Brunei.
“The leaders urged the joint project team to ensure the expeditious construction of the bridge,” the statement added.
Both leaders also reaffirmed their commitment to strengthen the existing economic cooperation between Brunei and Malaysia, particularly economic collaboration with the states of Sabah and Sarawak. – Bernama