Petros board comprises professionals formerly from Petronas, Shell

KUCHING: The board of directors of Petros, Sarawak's wholly-owned oil and gas company, consists of retirees from Petronas and Shell, according to Chief Minister Datuk Amar Abang Johari Tun Openg.
He said for a start, five members of the board, all Sarawakian, had been appointed, and soon they would have their first meeting and decide on its first chief executive officer (CEO).
"It is in the formative stage, the important thing is that we must have our own vehicle (in this industry), then we will work with Petronas, particularly in upstream activities," he told reporters when met briefly after he officially opened the International Conference on Language Studies 2017, here today.
Abang Johari said he would inform the State Legislative Assembly at its November sitting on the company, that was tasked to look after Sarawak's interest in the oil and gas industry.
The chief minister announced the formation of Petros during an appreciation dinner last week, and it was reported that the company's formation was an unprecedented step taken by the state government to enable Sarawak to actively participate in the extraction of its oil and gas while still pursuing its request for 20% royalty from Petronas. — Bernama