Malaysia’s oil and gas company Petronas to enter Kazakhstan

Malaysia’s oil and gas company Petronas is to enter Kazakhstan’s market, Kazakhstan’s President Nursultan Nazarbayev and Malaysia’s Prime Minister Datuk Seri Najib Tun Razak announced following their talks in Akorda, President’s Palace in Astana, today. According to the Malaysia’s PM, the parties have come to terms on mutually beneficial conditions. “I want to express my gratitude to President Nazarbayev for the invitation for Petronas to participate in development of Kazakhstan’s oil and gas projects in exchange for opportunities for Kazakhstan to participate in Petronas’s projects in other parts of the world”, Datuk Seri Najib Tun Razak announced. PETRONAS, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company that was founded on August 17, 1974. Wholly owned by the Government of Malaysia, the corporation is vested with the entire oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. Petronas is ranked among Fortune Global 500's largest corporations in the world.