ExxonMobil and Petronas sign agreement

ExxonMobil Exploration and Production Malaysia Inc., a subsidiary of Exxon Mobil Corporation, and the Malaysian national oil company, PETRONAS, will continue to work together to help ensure sustainable energy supplies for Malaysia under a planned new 25-year production sharing contract.

At the signing ceremony today for the main principles agreement for the new contract, Mark Albers, senior vice president, Exxon Mobil Corporation, said, “We are proud of our partnership and collaboration with PETRONAS that have allowed us to develop and deliver energy supplies to help meet growing Malaysian and international energy needs.

The contract includes commitments to implement significant enhanced oil recovery activities and for major investments to continue conventional oil development.