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MACC confirms investigation underway into oil & gas company projects

MACC confirms investigation underway into oil & gas company projects

As such, PETRONAS has said it will continue giving its fullest cooperation to MACC as it works on improving work procedures.

The Malaysian Anti-Corruption Commission (MACC) has confirmed that it has opened an investigation into the allegations involving PETRONAS’ award of a contract in 2021 to a Malaysian subsidiary of an international upstream company.

The body says it has so far found “several weaknesses in practices, systems, and work procedures”; and as such, has proposed improvements to the standard operating procedures (SOP) as preventive measures.

Meanwhile, MACC has also credited PETRONAS with providing full cooperation in the investigation, specifically involving the project worth RM399mn in Sarawak.

Responding to the investigation announcement, PETRONAS on 27 May 2023 (Saturday), said it has so far given its fullest cooperation to MACC, and will continue to do so. The statement added, that as of now, the Commission has “not found any wrongdoing by PETRONAS, its employees, and directors under the MACC Act 2009.

Going forward, PETRONAS states that it will continue to practice its “zero tolerance against corruption” approach. In line with MACC’s recommendations, the company has said it will continue to improve and strengthen its SOPs. Citing its “serious ongoing effort”, it affirmed 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.”

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