Results of Petros O&G study in Limbang and Lawas expected by Q3 2025
Awang Tengah (fifth left) hands over the project to Adison. From third left are Paulus and Ubaidillah.
LIMBANG (April 23): Petroleum Sarawak Berhad's (Petros) initial study of potential oil and gas (O&G) reserves in northern Sarawak is expected to be completed by the third quarter of this year.
Deputy Premier Datuk Amar Awang Tengah Ali Hasan said the Sarawak government is still waiting for complete data regarding the initial study, but there are early indications of potentially game-changing results.
'We have given a licence for Petros to conduct a study on oil and gas in Lawas. I understand that there may be complete data in the third quarter of this year; they will brief me and we pray that it will bring results.
'This is another development that will change the pattern of our income and could be a game changer for development in this area and hopefully will bring results,' he told the media after opening the entrepreneur pavilion and 2025 Aidilfitri celebration in Kampung Pahlawan, here yesterday.
He said if Limbang and Lawas are found to have O&G reserves, it would lead to a surge in comprehensive development and provide a bright future for the northern region and the state.
Separately, the Minister of International Trade, Industry and Investment said the state plans to open a Sarawak Trade and Tourism Office (Stato) in Kalimantan, Indonesia after the establishment of Statos in Singapore and Statob in Brunei Darussalam.
'This office would function as a platform to promote trade and culture, as well as open up new opportunities in the economic and tourism sectors that would benefit both parties,' he said.
'This year, we will go there to identify a suitable office for us to establish a Stato in Kalimantan.'
Among those present at the event were Batu Danau assemblyman Datuk Paulus Palu Gumbang, Northern Region Development Agency (NRDA) director Datu Ubaidillah Latip, Awangku Jinal Abedin Datuk Pengiran Jawa – a political secretary to the Premier, Limbang Resident Yunus Tambi, Limbang District Officer Sulaiman Engal, and Limbang District Council deputy walikota Adison Langgar. Awang Tengah Ali Hasan Lawas lead limbang o&g Petros
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
6 hours ago
- The Sun
Petronas to cut 10% of its workforce
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is cutting 10 per cent of its workforce to cope with challenging operating conditions, particularly due to falling crude prices. President/group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said the number of staff involved in the right-sizing process currently stands at around 5,000, and those affected will be notified by the end of this year. 'Petronas 2.0 will be run differently, organised differently, will have different work processes, and to move towards that, we have to correct the work process,' he said at a media briefing here today. He said the group aimed for a lean and nimble operation even if oil prices were to reach US$100 per barrel. (US$1 = RM4.23). 'There is a logic, an assumption set, and a projection that backs it up. Over time, we have seen this—those who have tracked our history will know that when the fields were easier, our profit before tax margin was around 35 to 40 per cent. 'Today, it is (between) 25 and 38 per cent. These margins are going to shrink further, and the fields are going to get smaller. So the value-added (Petronas) 2.0 has to transform into an organisation that monetises molecules commercially and competitively, not just at home, but also abroad,' he said. Petronas has based its budget on Brent crude trading between US$75 and US$80 per barrel. The benchmark is currently near US$65, down roughly 13 per cent this year, amid global trade tensions and rising OPEC+ output. The group reported a net profit of RM55.1 billion for the financial year ended Dec 31, 2024, down 31.7 per cent from RM80.7 billion a year earlier, due to lower average realised prices and favourable tax adjustments in 2023. On Petronas Petroleum Sarawak Bhd (Petros), Tengku Muhammad Taufik voiced concern over the uncertainty surrounding a deal between the two parties, adding that Petronas remains open to further negotiations on its role in the state. 'I'm concerned that if the deal is delayed—or unduly delayed—it will have an impact,' he added. On May 21, 2025, Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Tan Sri Abang Johari Tun Openg signed a Joint Declaration stating that Petronas will continue to carry out its functions, activities, responsibilities and obligations under the Petroleum Development Act 1974 (PDA 1974) and related regulations. According to the Prime Minister's Office, key principles have been agreed to support further negotiations between Petronas and Petros. The Joint Declaration acknowledges both federal and state laws, the status of existing agreements, and the need for a cooperative framework between the two parties. Under the declaration, the Sarawak state government has appointed Petros as the gas aggregator effective March 1, 2025. Petronas and Petros will also enter discussions to expand cooperation in meeting Sarawak's gas requirements across several areas. ALSO READ: Petronas not exiting Canada, says group CEO
Free Malaysia Today
10 hours ago
- Free Malaysia Today
S'wak High Court dismisses applications by Petronas to postpone, stay Petros suit
National oil company Petronas called on the bank guarantee last October after demanding payment of RM28,136,403.08 from Petros for gas supplied. PETALING JAYA : The Sarawak High Court has dismissed two applications filed by national oil company Petronas to postpone or stay the hearing of a suit brought by Petroleum Sarawak Bhd, the state's sole gas aggregator. Judicial commissioner Faridz Gohim Abdullah rejected the applications and confirmed that the case will be heard on June 11, the Dayak Daily reported. Faridz ruled that no special circumstances had been presented to justify a stay or adjournment. 'The hearing of the case should not be further delayed,' he was quoted as saying. Petros is suing to restrain Petronas from utilising funds of RM7.95 million received under a bank guarantee previously given by Petros in respect of the supply of gas. Petros contends that Petronas's demand for payment under the bank guarantee was 'unconscionable' or 'unlawful'. In April, Faridz dismissed an application by Petronas to suspend all legal proceedings on grounds that Petronas had failed to show the existence of any sufficiently exceptional or compelling grounds to stay the proceedings. In October last year, Petronas had called on the bank guarantee after demanding payment of RM28,136,403.08 from Petros for gas supplied. Petros filed its suit against Petronas on Oct 15, 2024. The Sarawak state-owned oil company simultaneously sought an ex-parte interim injunction to restrain Petronas from pursuing the payment and receiving monies under the bank guarantee. However, Faridz ruled that Petros's injunction application had become 'redundant' as Maybank Islamic Bhd had already paid Petronas on the guarantee.
Free Malaysia Today
3 days ago
- Free Malaysia Today
2 Japanese firms plan RM6.38bil projects in Sarawak
Sarawak deputy premier and international trade, industry and investment minister Awang Tengah Ali Hasan is in Osaka, Japan, to discuss details of the investments. (Bernama pic) PETALING JAYA : Two major companies from Japan plan to invest US$1.5 billion (RM6.38 billion) in the high-tech and chemical industries in Sarawak. According to a report by TV Sarawak today, Sarawak deputy premier and international trade, industry and investment minister Awang Tengah Ali Hasan is in Osaka, Japan, to discuss details of the investments. Bernama reported that one of the projects involves the construction of a semiconductor-grade polycrystalline silicon production facility by Japan's Tokuyama Corporation, in collaboration with South Korea's OCI Company Ltd. The investment is estimated at about US$435 million. 'This project has the potential to position Sarawak among the top five global locations in high-performance semiconductor production technology,' the report said. Another planned investment involves a consortium of Japanese companies in the chemical sector, with the investment estimated to reach US$1 billion. Feasibility studies and site evaluations on these two projects have begun. The Sarawak government will expedite the approval process for a smooth implementation. 'We offer a stable and competitive business environment, equipped with modern infrastructure and a skilled workforce,' said Awang Tengah.
