State Govt to Sabah remains an attractive investment destination

KOTA KINABALU: The State Government will ensure that Sabah will remain an attractive investment destination in the region in particular investments in relation to oil and gas industries.

This is while at the same time taking care of the environment and addressing climate change.

Deputy Chief Minister cum Industrial Development Minister Datuk Dr. Joachim Gunsalam said the oil and gas industry in Sabah continues to be a significant contributor to the state’s economic growth with the State Government actively involves through its agencies and government-linked companies (GLCs) such as the Sabah Oil and Gas Development Corporation (SOGDC), Sabah International Petroleum (SIP), Sabah Energy Corporation (SEC) and also the newly set up entity SMJ Sdn Bhd.

“In the past months, we have seen the vibrancy in the oil and gas related activities. A Commercial Collaboration Agreement (CCA) has been entered between the State Goverment and Petronas. The CCA provides the platform for both parties at the highest level to allow Petronas to share in the aspiration of the state government and the people to map out the development of the oil and gas industries in Sabah.

“This was followed by the launching of the Sabah Gas Master Plan 2026-2040 which sees the allocation of natural gas that will be utilised for LNG, to fuel industries and for power generation.

“At the First Anniversary of the Hala Tuju Sabah Maju Jaya (SMJ) Development Plan on March 29, 2022, a number of agreements ranging from Joint Collaboration Agreement (JCA) to Memorandum of Understanding (MOU) and Sublease Agreement have been signed between various companies and SOGDC which owns and develop Sipitang Oil and Gas Industrial Park (SOGIP).

“It is expected that the investment of these companies which are estimated to be more than RM20 billion, once realised, would bring tremendous economic spill-over impact not only to the communities in Sipitang but also the surrounding district like Beaufort, Papar and Tenom,” he said when officiating the 9th Sabah Oil & Gas Conference & Exhibition (SOGCE) 2022 here today.

Congratulating Midas for successfully organising SOGCE, Dr Joachim was pleased to note that the papers covered during the 9th SOGCE are related to issues that have significant impacts on the socio-economic development of Sabah and the rakyat in general.

For example, he said, the State Government sees the importance of human capital development.

“There is a need to evaluate the readily available local talents and to improve them to meet the needs of the oil and gas, manufacturing and construction industries,” he said, adding the State Government also sees the importance of taking care of the environment and climate change.

“I see this conference also discuss about renewable energy, the challenges and opportunities in the energy transition, other energy resources available to be tapped that will give benefit to our future generations,” he said.

He hoped SOGCE which acts as a one-stop centre of interaction for suppliers of technologies and experts in the oil and gas industry will be able to assist the State Government in implementing the SMJ Development Plan.

Also present were the Permanent Secretary of Ministry Industrial Development (MID), Thomas Logijin; Managing Director Sabah Oil and Gas Development Corporation, Haji Abdul Kadir Haji Damsal; Head, Resources, Exploration Malaysia Petroleum Management PETRONAS, Azmir Zamri; Chief Executive Officer Petra Energy Bhd, Datuk Anthony Bujang; Organizing Chairperson Sabah Oil & Gas Conference & Exhibition, Project Director Midas Events Management, Dolly Jimayol; Senior Vice President Project Delivery & Technology PETRONAS, Bacho Pilong and all captains of the Industry.

Related Articles

253FansLike

Latest Articles