Petronas may soon dish out mega contracts for local and foreign firms to develop marginal oil fields. And reports say the frontrunners are believed to be Kencana Petroleum Bhd and SapuraCrest Petroleum Bhd.
“The local players will tie up with foreign oil and gas majors in a consortium where the former would have a minor role as it is something new to them. The locals need to learn,” The Star quoted an industry source as saying. (In other words, the locals can’t handle the job themselves?)
According to Kencana’s Annual Report for 2010, Mokhzani Mahathir has a 39 per cent interest in the firm, mostly via Khasera Baru Sdn Bhd.
