Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Oil & Gas

Petronas, contractor investigated over alleged corruption on Sarawak project

The Malaysian Anti-Corruption Commission (MACC) has opened an investigation paper into alleged corruption involving national energy company Petronas’ projects and an unnamed international oil and gas company, specifically relating to an historic contract.

Petronas told Upstream that the investigation file opened by MACC relates to a 2021 contract awarded to a Malaysian subsidiary of an international upstream company.

MACC’s investigation paper was launched after allegations of historic graft resurfaced on a portal and were shared on social media. The commission on Friday said that Petronas has provided full cooperation to the MACC in the investigation involving the project worth 399 million ringgit ($86.73 million at current exchange rates) in Sarawak, East Malaysia.

Petronas said it has given its full co-operation to the Commission in this investigation, which did not find any wrongdoing by the company, its employees or directors under the MACC Act 2009.

“[However], so far, MACC has found several weaknesses in practices, systems and work procedures regarding the issue. Accordingly, the Commission has proposed improvements to the standard operating procedures (SOP) as preventive measures,” it said in a statement.

“Following MACC’s recommendation and in line with Petronas’ zero tolerance against corruption, we continue to improve and strengthen our SOP as a serious ongoing effort to prevent and fight all forms of corruption and misconduct by employees, directors and third parties employed by or on behalf of the companies in the group,” Petronas added.

Article continues below the advert

The Malaysian company said it would continue giving its fullest cooperation to MACC.

Meanwhile, MACC on Friday urged any party with new information regarding this issue to come forward and channel it to the Commission for further investigation under the MACC Act 2009.

While neither MACC nor Petronas has named the project or international company under investigation, multiple sources have informed which overseas company is indeed at the centre of the probe. Upstream has approached this international contractor for comment, clarification or denial on its involvement, if any, in this corruption investigation.

Read the full article here

Leave a Reply

Your email address will not be published. Required fields are marked *