KUALA LUMPUR, Oct. 22 (Xinhua) -- Malaysia's state-owned oil and gas firm Petroliam Nasional Berhad (Petronas), through its subsidiary Petronas Carigali International Ventures Sdn Bhd, has signed a memorandum of understanding (MoU) with Oman-based OQ Exploration and Production New Ventures LLC (OQEP).
The MoU aims to jointly pursue oil and gas exploration and production across the Middle East and Southeast Asia.
Petronas said in a statement on Tuesday that the MoU provides a framework for collaboration that leverages Petronas' international upstream expertise and OQEP's regional knowledge, aiming to unlock new growth opportunities and accelerate value creation in diverse markets.
"This collaboration represents a meaningful step forward in our efforts to build a resilient and competitive upstream portfolio. By aligning our strengths with OQEP's strategic direction, we are well-positioned to pursue impactful ventures in these regions," said Mohd Redhani Abdul Rahman, vice president of International Assets of Petronas Upstream.
