Sabah takes 20% stake in oil fields off Kota Belud
Sabah is poised to secure a bigger share in oil and gas resources after a state-owned company acquired a 20% non-operating participating interest in an agreement with Petronas, chief minister Hajiji Noor said.
State-owned SMJ Energy acquired the interest in the North Sabah enhanced oil recovery production sharing contract for the exploration and production of oil from offshore fields in Sabah.
The agreement covers four oil fields, located in waters off Kota Belud. Petronas Carigali Sdn Bhd will retain a 30% stake, while SEA-Hibiscus Sdn Bhd will continue as the operator with a 50% interest.
“We’re not just increasing ownership, we’re securing Sabah’s rightful share in its energy future,” Hajiji said in a statement. With both the Samarang and North Sabah assets now part of its portfolio, SMJE will enable Sabah to lift up to seven…
10 acara sukan dipindahkan dari Songkhla ke Bangkok, Chonburi – MOM