The national petroleum authorities of Brunei Darussalam and Malaysia will work on a joint undertaking in Brunei Darussalam's Block N under the framework of a production-sharing contract.

This was highlighted in a Joint Statement after the 15th Annual Leaders Consultation last night between His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and Prime Minister of Malaysia, Dato Laila Utama Dato' Sri Mohd Najib bin Tun Hj Abdul Razak at the Istana Nurul Iman.

The leaders expressed satisfaction with the progress made in the exploration and exploitation of hydrocarbon resources in the Commercial Arrangement Area (CAA).

Both leaders were encouraged that the existing cooperation between the national petroleum authorities of the two countries had been proceeding well and expressed satisfaction with the signing of a Memorandum of Understanding between Brunei National Petroleum Company (PetroleumBRUNEI) and Petroliam Nasional Berhad on cooperation in the oil and gas sector.

Both leaders reiterated their commitment in further strengthening cooperation in the oil and gas sector and instructed the relevant officials to discuss the financial and operational modalities including the efficient development of any straddling fields with a view to formalising an arrangement as soon as possible.

His Majesty and Her Majesty Raja Isteri Pengiran Anak Hajah Saleha granted an audience to Dato' Sri Mohd Najib bin Tun Hj Abdul Razak, Prime Minister of Malaysia and his wife Datin Sri Rosmah binti Mansor, and later hosted an official dinner in honour of the Malaysian premier's visit.

Also present at the audience ceremony were HRH Prince Hj Al-Muhtadee Billah, the Crown Prince and Senior Minister at the Prime Minister's Office; HRH Paduka Seri Pengiran Anak Isteri Pengiran Anak Sarah; HRH Prince Mohamed Bolkiah, Minister of Foreign Affairs and Trade; HRH Pengiran Anak Isteri Pengiran Anak Hajah Zariah; HRH Prince 'Abdul Malik; HRH Prince 'Abdul Mateen; HRH Princess Hajah Rashidah Sa'adatul Bolkiah; HRH Princess Hajah Majeedah Nuurul Bolkiah; and other members of the royal family.

Earlier, His Majesty and Dato' Sri Mohd Najib had a four-eye meeting at Cheradi Ratna Kenchana.

After the meeting, His Majesty and the Prime Minister of Malaysia proceeded to Baitul Masyuarah to witness the signing ceremony of several Memoranda of Understanding of Cooperation between the two countries.

The leaders in the joint statement expressed satisfaction with the implementation of other agreed elements of the Exchange of Letters and directed the various Brunei Darussalam-Malaysia Joint Committees to continue their work in following up its implementation.

Both leaders noted that the Memorandum of Understanding on the Joint Demarcation and Survey of the Land Boundary and its Terms of Reference are close to being finalised. The leaders looked forward to its speedy conclusion by the Joint Brunei Darussalam-Malaysia Land Boundary Committee to enable both sides to commence work on the joint demarcation and survey of the land boundary by the end of 2011.

Meanwhile, signing the agreement between the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and the Government of Malaysia relating to the construction of the bridge spanning the Pandaruan River, were done by Pehin Orang Kaya Hamzah Pahlawan Dato Seri Setia Awang Hj Abdullah bin Begawan Mudim Dato Paduka Hj Bakar, Minister of Communications and Dato' Shaziman bin Abu Mansor, Minister of Public Works, Malaysia.

Following this, the signing of the Memorandum of Understanding on Economy and Technical Cooperation between the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam and the Government of Sarawak was done by Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng, Minister of Foreign Affairs and Trade II and Datuk Amar Hj Awang Tengah bin Ali Hassan, Minister of Planning and Resource Management II and Minister of Public Utilities, State of Sarawak.

This was followed by the signing ceremony of the Memorandum of Understanding on Cooperation in the field of Oil and Gas between Brunei National Petroleum Company Sendirian Berhad and Petroleum National Berhad Malaysia (Petronas). The signing was done by Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng, Minister of Foreign Affairs and Trade II as the Chairman of Brunei Petroleum Company Sendirian Berhad and Dato' Shamsul Azhar Abbas, President and Chief Executive Officer of Petronas.

Finally, the signing ceremony of the Memorandum of Understanding on Cooperation in the field of Investment between Bandtree Company Sendirian Berhad (Brunei Darussalam) and Sabah Economic Development and Investment Authority (SEDIA) was done by Dyg Hjh Hartini binti Hj Abdullah, Managing Director of Brunei Investment Agency and Datuk Dr Mohd Yakub bin Hj Johari, SEDIA Chief Executive.

Present at the signing ceremony were HRH Prince Hj Al-Muhtadee Billah, the Crown Prince and Senior Minister at the Prime Minister's Office and HRH Prince Mohamed Bolkiah.

Also present were Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awg Hj Suyoi bin Hj Osman, Minister of Development; Pehin Orang Kaya Hamzah Pahlawan Dato Seri Setia Awang Hj Abdullah bin Begawan Mudim Dato Paduka Hj Bakar, Minister of Communications; Pehin Orang Kaya Seri Utama Dato Seri Setia Awg Hj Yahya bin Begawan Mudim Dato Paduka Hj Bakar, Minister of Industry and Primary Resources; Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Hj Abdul Rahman bin Hj Ibrahim, Minister of Finance II at the Prime Minister's Office; Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng, Minister of Foreign Affairs and Trade II and Dato Paduka Hj Ali bin Hj Apong, Deputy Minister at the Prime Minister's Office.

Also present from Malaysia were Datuk Sri Anifah bin Haji Aman, Minister of Foreign Affairs Malaysia, Datuk Seri Hishammuddin bin Tun Hussein, Minister of Home Affairs; Datuk Seri Noh bin Hj Omar, Minister of Agriculture and Agro-based Industry; Dato' Shaziman bin Abu Mansor, Minister of Public Works; Pehin Sri Haji Abdul Taib bin Mahmud, Chief Minister of Sarawak, Datuk Seri Panglima Hj Musa bin Hj Aman, Chief Minister of Sabah; Dato' Mukhriz bin Tun Dr Mahathir, Deputy Minister of International Trade and Industry; and His Excellency Dato' Abdullah Sani bin Omar, High Commissioner of Malaysia to Brunei Darussalam and other senior officials.

The Malaysian Prime Minister and delegation will leave the country this morning. - Borneo Bulletin (12th September 2011)