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Free Malaysia Today
04-07-2025
- Business
- Free Malaysia Today
Petronas, Sabah govt seal strategic energy agreements
Sabah industrial development minister Phoong Jin Zhe (fifth from right), MPM senior vice-president Bacho Pilong (fourth from right), joined by Sabah government representatives and industry leaders at the Sabah Oil, Gas & Energy Conference & Exhibition 2025. (Website pic) PETALING JAYA : Petronas, through Malaysia Petroleum Management (MPM), has formalised several key agreements with the Sabah government at the Sabah Oil, Gas & Energy Conference & Exhibition (SOGCE) 2025 in Kota Kinabalu. The national oil company said the agreements mark key milestones in a shared commitment to advancing Sabah's energy landscape through collaborative, sustainable, and value-driven development. 'The event represented a key advancement in Sabah's energy development with the official document handover of the Sabah Gas Strategy, an initiative by both Petronas and the state government,' it said in a statement. MPM senior vice-president Bacho Pilong said these achievements reaffirm Petronas's enduring partnership with Sabah, built on mutual trust and a shared vision to responsibly unlock the full potential of the state's energy resources. Under the advisory of the Sabah Joint Coordination Committee, the strategy was developed by a joint task force comprising Petronas, SMJ Energy Sdn Bhd, Sabah Energy Corporation Sdn Bhd, the Energy Commission of Sabah as well as the state industrial development and entrepreneurship ministry. Another highlight was the signing of the technical evaluation agreement (TEA) for the Layang-Layang Basin off the coast of Sabah, a frontier basin spanning about 44,500 sq km. The agreement, signed with ConocoPhillips Malaysia New Ventures Ltd and Pertamina Hulu Energi, paves the way for comprehensive subsurface studies ranging from regional geological assessments to detailed prospectivity analysis. 'This highlights Petronas's continued commitment to activate frontier basins and advancing exploration efforts in this promising area,' Petronas said. The company also inked a memorandum of understanding with Dialog Resources Sdn Bhd to further advance the development of the Mutiara Cluster, located off the coast of Sabah's east coast. Offered under the Malaysia Bid Round 2025, the Mutiara Cluster small field asset production sharing contract was awarded to Dialog Resources in June. The cluster offers an opportunity to monetise discovered resources with a cost effective, optimised development plan that will see Dialog Resources repurpose existing materials and equipment, drawing on past insights to accelerate first gas delivery. Petronas is also investing in seismic data acquisition, including off Sabah's east coast, to enhance basin understanding and fast-track exploration.
New Straits Times
13-05-2025
- Business
- New Straits Times
Maybank Investment named sole adviser, lead manager for Sabah Energy's maiden sukuk
KUALA LUMPUR: Maybank Investment Bank Bhd has been appointed as Sabah Energy Corp Sdn Bhd's sole principal adviser, lead arranger and lead manager for its inaugural sukuk. The investment bank was also appointed as Sabah Energy's sustainability structuring adviser for its sustainable finance framework. Maybank Investment chief executive officer Michael Oh-Lau said Sabah is at an inflection point in its renewable energy journey, with untapped potential in solar, bioenergy and geothermal. "Maybank as a regional leader in Islamic debt capital markets and sustainable finance-partnering with Sabah Energy to establish a Shariah-compliant, sustainability-ready funding platform to support its energy transition efforts and direct capital towards developing the state's energy resources," he said in a statement. Sabah Energy convened its inaugural ESG Forum 2025 under a theme 'From Intention to Impact: Building a Fit-for-Purpose ESG Future' at Menara SEC in Kota Kinabalu. The event brought together over 100 delegates from state agencies, government-linked companies, financial institutions and sustainability practitioners, with the aim of fostering collaboration and accelerating ESG adoption across Sabah's energy sector and beyond. Sabah Energy chairman Datuk Annuar Ayub emphasised the importance of ESG, not just as a reporting tool but as a strategic lever for long-term competitiveness and resilience. He lauded the forum as a defining step in embedding sustainability as a shared value across Sabah's institutional ecosystem.
