According to Tengku Razaleigh however, the vesting deed agreement, which he signed on behalf of Petronas as founding chairman and CEO, entitles the state to five per cent of any revenue derived from hydrocarbon deposits found on or offshore of the state.
“If I am chairman still of Petronas, I will pay without all the fuss,”
“And I feel all the more it should be paid because I signed the agreement! There is no two ways about it. It must be paid.”
"I think it is a very straightforward issue. It shouldn’t be an issue because we signed the vesting deed agreement with all the state governments, including Sabah and Sarawak. And it’s very straightforward and very simple piece of legislation. Anybody who reads it will understand it without having to consult a lawyer."
"Simply put, we agreed to pay any state in the federation if oil is found onshore or offshore. In this instance, oil is found offshore, which is a joint development area with Thailand. And it became like that because we did not file with the Law of the Sea Convention in Geneva to reiterate that that was our offshore area. So the Thais decided to move ahead and as a result, through negotiation, we adopted the same area as a joint development area. Now that is just off the state of Kelantan."
"Under the vesting deed agreement, if oil is found there and Petronas make profit from the joint development and of course it is 50:50 share (with Thailand), Petronas will earn 50 per cent of profit. If they earn that much money, then 5 per cent must be paid to the state in cash."
sumber; Malaysian Insider 26/7/09