SMJ Energy secures RM94 million from its latest crude oil sale
Published on: Fri, Jul 25, 2025 Text Size: SMJ Energy's operations are aligned with the Sabah State Government's vision to promote economic growth, expand local participation in the energy industry, and transition towards a sustainable energy future. Kota Kinabalu: Sabah Maju Jaya (SMJ) Energy continues to deliver strong returns for Sabah, recording RM94 million from its 10th crude oil sale under the Samarang Production Sharing Contract (PSC), bringing its total estimated revenue to RM1.9 billion since acquiring a stake in the offshore asset. The State-owned energy company secured a 50 per cent participating interest in the Samarang PSC on May 31, 2023, and has since recorded consistent gains, including RM397 million in 2025 alone through strategic sales of crude oil and gas. Located offshore Sabah, the Samarang PSC not only contributes significantly to the state's income but also plays a vital role in supplying gas to the Kota Kinabalu Industrial Park (KKIP) and three nearby gas-powered plants. In a statement Thursday, SMJ Energy said the successful series of sales reinforces its role as a key driver of Sabah's energy sector and economic development. 'The continuous revenue stream from Samarang reflects our long-term commitment to delivering sustainable value to the State,' it said. SMJ Energy's operations are aligned with the Sabah State Government's vision to promote economic growth, expand local participation in the energy industry, and transition towards a sustainable energy future. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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