(Bernama) - Gua Musang MP Tengku Razaleigh Hamzah today claimed he was told that the national oil company, Petronas, has made a “very big discovery of an oil field, probably the biggest in the world”.
This discovery, he asserted, meant that Petronas would have a very good future. However, the founding chairman of Petronas declined to go into details.
"I was told... no announcement (was) made (about) a very big discovery of oil. I was told there was a big discovery... which could depress the oil price. I was also told it is the biggest oil field or oil well (not only) in this part of world but also in any part of the world.
"I cannot disclose the (location)... I cannot tell you," he said when asked repeatedly about the discovery, which he mentioned in his talk titled, 'Conversations on the Constitution and Oil Royalty - A Constitutional Right?' organised by the Bar Council today.
He also did not identify who had told him of the developments in Petronas.
Razaleigh had recently spoken against the federal government's stand that the Kelantan government had no right to demand royalty for the oil extracted from the state's offshore area.
Razaleigh, a former finance minister, said a large oil find means Petronas had a good future but added, it must be properly managed.
"I hope Petronas will be managed well... no leakages, so that money will come back to the people," he added.
He also said that he was very happy to note that despite Petronas having to spend money for the construction of the Petronas Twin Towers here and the development of Putrajaya, the federal administrative capital, the national oil company "is still in the black, with money and had some reserves left".
Petronas contributed about RM75 billion annually to the federal government, which is equivalent to about 42 percent of the country's revenue.
Since it was founded on Aug 17, 1974, Petronas has grown to be an integrated international oil and gas company with business interests in 31 countries.
Petronas is ranked among Fortune Global 500's largest corporations in the world.
Fortune ranks Petronas as the 95th largest company in the world in 2008 and 80th largest in 2009.
It also ranks Petronas as the eighth most profitable company in the world and the most profitable in Asia.
Oil prices have fallen in the last two weeks by up to 2.8 percent to below US$80 a barrel early Friday. London Brent Crude for May fell US$1.60 a barrel to US$79.88.
written by AlwaysFair, March 22, 2010 04:45:10
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written by justice seeker, March 22, 2010 00:27:39
This discovery, he asserted, meant that Petronas would have a very good future. However, the founding chairman of Petronas declined to go into details.
THE REAL BENEFACTORS WOULD BE A FEW ELITE HYPER RICH CRONIES/WARLORDS.
FOR THE RAKYAT, PETROL, GAS AND ELECTRICITY PRICES LOOK SET TO SKYROCKET AGAIN
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written by Wudang, March 21, 2010 21:02:41
By then, hopefully, Pakatan Rakyat has become the Government of Malaysia. RPK and Marina are back in Malaysia and awarded a Tan Sri and Puan Sri and I will still be reading and commenting in MT.
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written by Wudang, March 21, 2010 20:36:55
Let's see where this big and probably largest offshore oil field in the world come from. The largest offshore oilfield is Safaniya, Saudi Arabia. Ghawar produced 5,000,000 barrels per day. Safaniya produced 960,000 barrels per day. (Saudi Arabia Oil Production by Field, 1994 data. Source : SPE#57322.
Our giant field, King Tapis, produced about 400,000 barrels per day at its peak.
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written by Aduh, March 21, 2010 20:00:59
So far you have done a marvellous job. Hope you maintain that until we achieve the objective.
The rakyat depends a lot on you. Do not let them down by withholding any vital information. Disclose whatever you know so that appropriate course of action can be taken to pressure the arrogant government..
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written by jokersland, March 21, 2010 15:00:04
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written by hunkeyboy, March 21, 2010 12:51:26
1. smack in south china sea - in an area claimed by thailand, vietnam, malaysia, indonesia, philippines, china.
2. in waters off and around kedah, penang, down the straits along perak and selangor.
3. around waters of johor and south covering singapore and indonesia.
4. under peninsula's main range and stretching across to sarawak's gunung iran or crocker's range (or whatever today).
believe?
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written by DPG, March 21, 2010 12:50:57
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written by Logger123, March 21, 2010 12:41:09
Hopefully the foaming rabid UMNOputras will tear themselves to bits fighting over this bonanza. But knowing the Maha, he will throw them enough bones for these putras to chew until they fade away.
PR chances are very very slim indeed against the might of the Petronas Corporate Folks, the Army, the Royals and Mahathir and the Chinese taikos like Vincent Tan, YTL etc who salivate for that Petro$$$$$.
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written by AlwaysFair, March 21, 2010 12:20:07
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written by Duke, March 21, 2010 12:01:57
Pakatan - you better win the ticket to Putrajaya in GE 13.........or Malaysians are doomed!
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written by archie, March 21, 2010 11:57:59
Announcement will be made just before the dissolution of Sarawak State Assembly!!!
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written by mukhan, March 21, 2010 11:40:28
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written by ibabonma, March 21, 2010 11:22:51
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written by truthbespoken, March 21, 2010 11:15:35
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written by Motherchell, March 21, 2010 11:05:30
Nothing was proved right in the last 30 years . More UMNO Bastards , more Toyols , more Ibrahim Alibabas , more Jakims Muftis, more Zombie Zahrains , more Pigtails, Musangs etc will be created.
The Big MNC's will bribe these bastards to use the oil to build their reserves and the Orang Aslis and the Kampongs will still be standing alone and rotting with time standing still!!!!!!!!!! .
THIS TIME A trapezoid PETRONAS Tower will shadow the slums around KL and all the cities with UMNO in power.
The music to the ears will be played by the Petronas Philharmonic to harmonize all their squander and thievery. More Datuks will find foreign wives , maybe the number will exceed the lawful 6 . Islam will be rewritten to suit the fit for the Holy man in UMNO.
You'll find the air with the stench of corruption and murder even more. The sons and daughters of all the UMNOPUTRAS are waiting on the wings to take over this find. Kuala Lumpur will be more in the era of the Blade Runner. More Billion Ringgit Palaces will be build to appease the Royalty to keep their mouths and ears shut. ----------If i continue i can write a book folks.
As Ku Li said , Oil to Malaysia is a curse!!!! If UMNO is still in Power.
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written by arazak, March 21, 2010 11:02:52
It is so sickening to see how they keep on plundering the nation’s wealth and the peoples’ money!
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written by cheekhiaw, March 21, 2010 10:33:22
xxx
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written by Angela Ooi, March 21, 2010 10:02:13
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written by Wudang, March 21, 2010 09:44:16
------------------------------------
The largest oilfield in the world is 'Ghawar' located in Saudi Arabia. Do you know how big is 'Ghawar'?
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written by Rainbowseahorse, March 21, 2010 09:13:21
My guess is it's located somewhere offshore to Kelantan or Trengganu.,.or possibly in the Sulawesi sea off Sandakan/Tawau which is counter claimed by Indonesia....then again, it could be in the Spratley islands with over lapping claims by many countries....Hmmmm, interesting news indeed!
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written by Semuaok, March 21, 2010 08:51:59
Petronas = gas = $ = control Malaysia
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written by malsia1206, March 21, 2010 08:39:41
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BTW, it was also known that this oil field could be one of the largest in the world - as big as the ones in the Middle East. If it is, I'd wonder what the fed gomen will say when they increase petrol prices (for local consumption) again.