Petronas extend Malaysia Grand Prix sponsorship

Malaysian state oil company Petronas has extended its title sponsorship of the country's Formula One grand prix for another five years until 2015.

Malaysia has hosted a grand prix at the purpose-built Sepang International circuit outside Kuala Lumpur since 1999 and Petronas has sponsored all 12.

"Apart from the continuous benefits our businesses and brand receive through the Formula One exposure, [the extension] reflects our long-term commitment and continued dedication to support efforts to position Malaysia as a major motorsport hub and tourist destination," Petronas's Mohammad Medan Abdullah said in a news release.

"This also signals the growing importance of Formula One to Asia, particularly to the businesses related to this premier sporting event, including the automotive, oil and gas industries," he said.

Formula One commercial supremo Bernie Ecclestone said the Malaysian Grand Prix had helped the growth of the series in Asia, which now hosts races in Japan, China, Bahrain, Singapore, Abu Dhabi and, for the first time this year, South Korea.

"We have a really close relationship with Petronas, who help Malaysia promote the country worldwide," Abdullah said.

Petronas are also the title sponsors of the Mercedes Formula One team.