CM: Sabah preferred destination for oil and gas investments
KOTA KINABALU (Jan 23): Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said Sabah is rapidly emerging as a preferred destination for oil and gas investments due to strategic collaborations between the Sabah Government and Petronas.
“We look forward to further collaborations with Petronas in the best interest of Sabah,” he said at the commemoration of the strategic development in the Kebabangan Cluster Production Sharing Contract (KBBC PSC) following the official transfer of operatorship to ConocoPhillips Sabah Gas Ltd here on Thursday.
Finance Minister, Datuk Seri Panglima Masidi Manjun represented the Chief Minister at the ceremony.
The transfer, with effect from January 21, 2025 made ConocoPhillips Sabah Gas Ltd, a subsidiary of global energy company ConocoPhillips, the sole operator of the KBBC PSC.
Previously, the KBBC PSC was operated by Kebabangan Petroleum Operating Company Sdn Bhd (KPOC), a joint operating company comprising Petronas Carigali Sdn Bhd, Shell Energy Asia Limited and ConocoPhillips Sabah Gas Ltd.
The KBBC PSC is poised to strengthen Sabah’s energy security through PSC continuation, domestic market Upstream Gas Sales Agreement (UGSA) enhancement, and a new UGSA introduction to support gas supply to Petronas Floating Liquefied Natural Gas 3 (PFLNG-3).
Malaysia Petroleum Management (MPM) Senior Vice President, Datuk Ir. Bacho Pilong was also present.
-Agency
