PM: Petronas to continue proactive foreign investments

SEPANG: Prime Minister Datuk Seri Najib Tun Razak said Petroliam
Nasional Bhd would continue to earn with its proactive moves to invest
overseas.

Referring to its investment in Turkemenistan where it
has developed the Kiyanly onshore gas terminal and offshore gas
production plant, Najib, who is also Finance Minister, said that the
gas field was located among the "richest" in the area.

The CONSTRUCTION [] of the plant, the country's first offshore gas platform, involved an investment of about US$5.2 billion from Petronas.

Speaking to reporters immediately after arriving at the KL
International Airport here on Friday, July 22 following his visit to
three countries, Najib said with the location of the plant in one of
the most richest areas, it would mean that Petronas would continue to
see a steady stream of returns.

"And if the oil in Malaysia
continues to deplete, we have already taken the proactive measures to
invest overseas. "We are doing this for the Malaysian rakyat. We have
made an early and very careful planning," he said.

On July 12,
Najib together with the President of Turkmenistan, Gurbanguly
Berdimuhammedov, had officially launched the Kiyanly gas plant.

He was in the country on a two-day official visit before continuing on his visit to the United Kingdom and Italy.

Najib also said that he was very proud to see the involvement of more
than 100 Malaysian engineers from the fields of geology, chemicals and
petroleum in the building of the plant.

They have made Malaysia proud, he added.

The gas facility has the capacity to produce 500 million cubic feet of
gas a day and is equipped with two process trains and a 53 km pipeline
linking the terminal to an export pipeline. - Bernama