Petronas cancels tender for billion-dollar project off Sarawak

Petronas has called off the tender for a key contract tied to the multi-billion Kasawari gas field development in Block SK316 off Sarawak, as Brent crude slipped under US$38 for the first time since 2008, challenging the economic viability of a project lined up during US$100 oil prices.

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Extracted from Business Times, 16 Dec 2015