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KUALA LUMPUR, April 5 - Malaysia's state oilcompany Petronas signed an agreement with Brunei onMonday to jointly develop two offshore oilfields.
The Gumusut-Kakap and Geronggong-Jagus East fields straddlethe two countries' maritime boundary. The tiny sultanate ofBrunei is surrounded by the Malaysian state of Sarawak on thenorth coast of the island of Borneo.
"Having now formalised this landmark agreement, Petronasbelieves that both parties can look forward to continuing thestrong momentum towards developing our nations' energy sectorsfor the long-term growth and prosperity of both Brunei andMalaysia," said Petronas group CEO Tengku Muhammad Taufik saidin a statement. REUTERS