Petros, the oil and gas company owned by the Sarawak government, announced the allocation of RM40 billion in capital over the next five years, making it a major step in strengthening the position of the state's oil and gas industry.
This allocation, announced by its chairman Tan Sri Dr Hamid Bugo, aims to expand Petros' involvement in 19 production sharing contracts as well as develop strategic hubs in Kuching, Miri, Bintulu, and Similaju.
Meanwhile, Petros and Petronas are undergoing a series of discussions regarding a single gas aggregator in Sarawak, under the Gas Distribution Ordinance 2016 where Petros is expected to manage gas distribution in the state.
Although there is no formal black and white yet, Sarawak Premier Tan Sri Abang Johari Openg, stated that Petronas had given the 'green light' to the proposal through their discussions.
This discussion had to be postponed several times due to logistical issues that could potentially disrupt gas distribution in Bintulu.
However, the implementation of this plan is expected to increase Sarawak's control over gas resources and provide greater economic benefits to the state.
With this initiative, Sarawak is ready to achieve more constructive progress in the oil and gas sector, ensuring sustainable and competitive economic development for the people.
