KUANTAN, Oct 30 (Bernama) -- The discovery of additional petroleum reserves at the offshore Bertam oil field located near Pahang, will not only benefit the state, but other states, as well.
Pahang Menteri Besar Datuk Seri Adnan Yaakob said, the announcement by Prime Minister Datuk Seri Najib Tun Razak that Pahang was expected to receive around RM100 million annually in royalty, would greatly impact its economy.
"The discovery will benefit Pahang and other states, as well. God willing, we will use the money to give development to the people. (Therefore) I take this opportunity to thank the federal government," he told reporters after opening a state co-curriculum excellence ceremony organised by the Pahang Foundation here Tuesday.
Najib had announced today that Petronas Carigali Sdn Bhd and Lundin Oil found additional oil reserves at the Bertam oil field located at Block PM 307.
The offshore oil field is located about 160km off Pahang at a depth of 76 metres.
Najib, who is also finance minister, said Pahang was expected to receive a royalty of about RM100 million a year, depending on the output estimate, when production began in the third-quarter of 2014.
-- BERNAMA
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