Malaysian oil company Petronas and China-based oil firm CNOOC, have signed a memorandum of understanding to “pursue mutual growth through closer collaboration.”
“The MoU elevates the long-standing relationship between the two parties from primarily liquefied natural gas (LNG) and upstream projects towards a shared ambition in energy security and cleaner energy solutions,” Petronas said.
The parties will “intensify” collaboration in LNG, upstream exploration & development projects, refining, oilfield & engineering services, specialty chemicals, lubricants as well as renewable energy.
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