Petronas Sets Up Transition Council, Human Capital Development Committee Following Restructuring

Barnama

3 days ago

BUSINESS
KUALA LUMPUR, July 30 (Bernama) -- Petroliam Nasional Bhd (Petronas) has established a Transition Council and a Human Capital Development Committee aimed at coordinating a fair and structured redeployment of staff following the company's organisational restructuring.
Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, in a written reply uploaded on the Parliament's website, said that affected employees would receive a competitive separation package as well as comprehensive support through a transition programme.
This includes career guidance, emotional support, upskilling, financial planning, and job relocation assistance through collaboration with the Social Security Organisation, government-linked companies, and Petronas' entrepreneurial initiatives.
'These measures are part of Petronas' transformation strategy to enhance resilience and competitiveness in facing the energy transition era.
'They are strategically designed so as not to affect Petronas' contribution to national revenue or the continuity of national development policies,' she said.
Azalina was responding to a question from Sabri Azit (PN-Jerai) regarding the government's response to Petronas' decision to reduce over 5,000 of its workforce due to the company's restructuring and the impact on its contribution to national income.
In another development, in response to a question from Datuk Seri Richard Riot Jaem (GPS-Serian) on the current status of overlapping powers between Petronas and Petroleum Sarawak Bhd (Petros) in Sarawak, Azalina informed that a Joint Declaration signed on May 21, 2025 serves as the foundation for the formation of a joint framework between Petronas and Petros.
Through the declaration, Petronas will continue to carry out its roles and responsibilities as provided under the Petroleum Development Act 1974, including from upstream sector activities up to the sale of liquefied natural gas (LNG) to international markets.
Apart from that, Petros has been appointed by the Sarawak state government as the gas aggregator for the state's domestic market, effective March 1, 2025. This appointment will be respected by all industry players involved in the distribution and supply of gas to domestic consumers.