Malaysia’s Petronas has pulled the plug on the potential sale of a significant stake worth up to US$1 billion in its Block SK 316 off Sarawak, which hosts the giant unexploited Kasawari gas field.

“We have stopped the process,” said Petronas chief executive upstream, Anuar Taib, on the sidelines of OTC Asia.

Anuar would not be drawn as to whether this meant the state company would now be forging ahead on its own to exploit Kasawari, which contains 30% to 40% carbon dioxide.