He said the agreement was reached after extensive discussions between the state government, the Ministry of Finance and Petronas. "The committee at its meeting this morning was informed of the scope and salient features and terms of the commercial settlement and the significant benefits and advantages which the state would derive from the agreement,” he said in a media statement after the meeting. He said the committee was briefed on this by state government representatives involved in the negotiations. Asfia , who is also the Sarawak State Assembly Speaker, said a formal agreement on the matter will be signed on December 7 and the full details will be released then. "This historical signing ceremony, to be held in Kuala Lumpur, will be witnessed by Chief Minister Datuk Patinggi Abang Johari Openg and Prime Minister Tan Sri Muhyiddin Yassin, together with the whole negotiation team from both the state government and Petronas,” Asfia said. In May 2020, the federal government, state government and Petronas agreed that the issues relating to the imposition of state sales tax (SST) and the state’s decision to regulate oil mining in Sarawak under state laws should be resolved outside the court system. The legal actions commenced by Petronas and the state government were withdrawn in August this year. The federal government then formed a Joint Committee headed by the Senior Minister for Works Datuk Sero Fadillah Yusoff and Minister of Finance Datuk Seri Tengku Zafrul Abdul Aziz to facilitate the discussions between the state government and Petronas on commercial arrangement.