Tengku Razaleigh Hamzah
The federal government decided to appoint Tengku Razaleigh Hamzah to negotiate new terms with Abdul Rahman. Abdul Rahman also claimed that in a meeting of final decision of oil royalty payments chaired by Tun Tan Siew Sin (Federal Finance Minister) and attended by deputy chief minister of Sarawak Tan Sri Stephen Yong, an agreement of 5% oil royalty was reached without consulting Abdul Rahman. However, according to autobiography of Tengku Razaleigh Hamzah published in 1986, Abdul Rahman agreed to the equal share of 10% oil royalty between the federal and the state government after a private discussion with Razaleigh. Abdul Rahman finally agreed to the 5% oil royalty given by the federal government. Petroleum Development Act was passed in parliament in 1974. This would allow Malaysian oil and gas company, Petronas to gain control over the oil and gas reserves in Sarawak. The revenues from oil and gas will be divided among oil-producing states (5 percent), federal government (5 percent), producer company (41 percent), and Petronas (49 percent).