Petronas have extended their title sponsorship of the Malaysian F1 Grand Prix for a further five years.
The Malaysian made its Formula One debut back in 1999 and each grand prix since has been sponsored by Malaysian state oil company Petronas.
The company, which also sponsors the Mercedes GP team, is now set to continue their deal with the Sepang race, having signed an extension that will run until 2015.
"Apart from the continuous benefits our businesses and brand receive through the Formula One exposure, our extension of the agreement to partner Formula One reflects our long-term commitment and continued dedication to support efforts to position Malaysia as a major motorsport hub and tourist destination," said Mohd Medan Abdullah, senior general manager, corporate services division Petronas.
"The economic activities during the Grand Prix period have also benefited a growing number of local industries - particularly those in the tourism, food and beverage, transportation and related services sectors.
"More importantly, 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."
