Latest news with #PetroleumSarawakBerhad
Borneo Post
6 days ago
- Business
- Borneo Post
Sarawak bids to lead Asia in carbon storage with RM100 mln Petros initiative, says Deputy Premier
Awang Tengah says the initiative aims to build a globally competitive carbon storage portfolio, enhancing Sarawak's expertise, investment appeal, and progress towards a low-carbon, sustainable economy. – Photo by Sarawak Public Communications Unit KUCHING (May 28): Petroleum Sarawak Berhad (Petros) together with its investors has committed more than RM100 million to evaluate Sarawak's carbon storage potential and develop a comprehensive database, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. He said the initiative aims to build a globally competitive carbon storage portfolio, enhancing Sarawak's expertise, investment appeal, and progress towards a low-carbon, sustainable economy. 'Petros, as the appointed resource manager, has launched the Sarawak Bid Round 2024 – Asia's first carbon storage-focused bid round – offering three offshore storage sites with significant geological potential. 'Petros is currently finalising the agreement and plans to award the successful bidders by end of Q2 2025,' he said during his ministerial winding-up speech here today. Awang Tengah added that Petros is positioning Kuching and Samalaju as key hubs for Carbon Capture, Utilisation and Storage (CCUS), supported by the development of advanced infrastructure to establish integrated carbon storage systems within the next decade. 'This initiative will enable Sarawak to provide carbon storage solutions for both domestic and international emitters, opening up new opportunities in the CCUS industry,' he said. He noted that Sarawak is poised to lead regional CCUS efforts, with the state holding more than 65 per cent of Malaysia's geological carbon storage potential. 'Sarawak is at the forefront of national and regional decarbonisation initiatives, driving sustainable solutions and reinforcing its key role in the global low-carbon economy,' he added. Awang Tengah carbon storage DUN Petros
Borneo Post
17-05-2025
- Business
- Borneo Post
Sarawak govt extends free gas pipelines to 500 homes in Miri
Sumbang (centre) shows Lee (right) the working gas pipeline in his kitchen while Toh looks on. MIRI (May 17): The Sarawak government is extending free natural gas pipelines to approximately 500 homes in Taman Ceria, Permyjaya, as part of an initiative to ease the financial burden on low-income households, said State Transport Minister Dato Sri Lee Kim Shin. Implemented through Petroleum Sarawak Berhad (Petros), he said the project is a key component of the state's efforts to enhance basic amenities for residents, particularly in high-demand areas. 'In this constituency alone, many households rely on gas cylinders, often purchasing one or two monthly at a cost of RM30 to RM60. This initiative helps them save significantly,' he said when met during a working visit to some homes already equipped with the gas pipelines on Friday. Lee was accompanied by Councillor Toh Kah Siong. The Senadin assemblyman added that approximately 2,000 residents in the area are expected to benefit from the free natural gas installation under the Gabungan Parti Sarawak (GPS) Corporate Social Responsibility (CSR) programme. 'The installation cost for each home typically averages RM3,500, but under this initiative, it is fully subsidised for low-cost housing units. 'With natural gas, residents could pay as little as RM5 per month – far less than cylinder gas. Even at RM10, the savings are still substantial,' he said. During the visit, Lee also met with eight families who had recently received gas connections and presented them with basic necessities as a gesture of support. One of the beneficiaries, Sumbang Ganja, 53, expressed his appreciation for the initiative. 'Previously, we had to buy gas cylinders that sometimes ran out before the month ended. Now, we pay only RM5 or RM6 – up to RM10 max – which is already a huge help,' he said. free gas pipelines Lee Kim Shin miri
Borneo Post
09-05-2025
- Business
- Borneo Post
Legal foundation key to Sarawak–federal talks on Petronas-Petros, says Deputy Premier
Dr Sim points out that the issue of oil and gas sovereignty involves what he described as 'Sarawak's big money for the next 100 years', and that the rule of law will determine Sarawak's position in this century-long strategic game. KUCHING (May 9): The ongoing negotiations between the Sarawak government, the federal government, Petronas, and Petroleum Sarawak Berhad (Petros) hinge critically on establishing a solid legal foundation, said Deputy Premier Datuk Amar Dr Sim Kui Hian. He pointed out that the issue of oil and gas sovereignty involves what he described as 'Sarawak's big money for the next 100 years', and that the rule of law will determine Sarawak's position in this century-long strategic game. 'This year, the Sarawak government's revenue is RM15.8 billion – equivalent to 15 years of Penang's income or five years of Selangor's. That's the gap,' he said, in a See Hua Daily News report. He candidly remarked that the agreement currently being negotiated with the Prime Minister Datuk Seri Anwar Ibrahim, even if only at a preliminary stage, could already bring Sarawak RM10 billion in cash – an amount that surpasses the total property value of Kuching, Sibu and Miri combined. He said this was merely 'the initial funding', noting that the real value lies in Sarawak's rich and strategically important natural gas reserves. 'We are the fifth or sixth largest natural gas reserve in the world. This money is not just for now — it is money with far-reaching implications for the next hundred years,' he said when officiating at the Borneo Eco Show 2025 at the Borneo Convention Centre Kuching (BCCK) today. Touching on medical research, Dr Sim highlighted that since the establishment of Clinical Research Malaysia in 2012, Sarawak has successfully attracted over RM1.5 billion in medical research investments and created around 3,000 high-paying jobs. He emphasised that Sarawak now leads the nation in First-in-Human (FIH) clinical trials. In 2023, Malaysia recorded six such trials – five of which were from Sarawak. Notably, the Sarawak General Hospital (SGH) has been recognised by international pharmaceutical giant Roche as the only medical institution in Southeast Asia qualified to conduct cancer clinical trials. Dr Sim also cited Singapore as an example of what not to blindly follow in urban development. He shared that during a visit with Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg to Singapore's Ang Mo Kio area in 2022, they learned that the Singapore government had removed a previously cemented river and restored it to its natural state, as the concrete structure had caused fish and birds to vanish. 'Our drains aren't cemented, not because we're advanced, but because we couldn't afford it. But in the end, we preserved the natural rivers, which turned out to be an advantage,' said Dr Sim. He stressed that urbanisation should balance sustainability with livability, and mistakes made by others need not be repeated. With a touch of wit, he added: 'If others have already gotten cut by the knife, we don't need to slash ourselves again.' Dr Sim Kui Hian oil and gas Petronas Petros
Malay Mail
04-05-2025
- Politics
- Malay Mail
Anwar urges calm as negotiations continue on Petronas-Petros dispute
KUALA LUMPUR, May 4 — Prime Minister Datuk Seri Anwar Ibrahim expressed strong confidence today that the ongoing dispute between Petronas and Petroleum Sarawak Berhad (Petros) will be resolved fairly and respectfully. He confirmed speaking with Sarawak Premier Tun Abang Johari Openg yesterday to discuss the issue, consistent with previous understandings between the federal and state governments. 'Once the premier returns from his official visit to London, United Kingdom, we will promptly hold further discussions to finalise the matter,' Anwar said in a social media post earlier today. In his statement, Anwar also urged all parties involved to refrain from making public pronouncements or pursuing unilateral actions regarding the dispute while discussions are ongoing. The prime minister reaffirmed the federal government's commitment to finding a solution that fully acknowledges Sarawak's rights under the Malaysia Agreement 1963 (MA63), while simultaneously maintaining national unity and cohesion. At the heart of the dispute is Sarawak's assertion of regulatory control over its own oil and gas resources via Petros, challenging the exclusive rights granted to Petronas under the federal Petroleum Development Act 1974 (PDA). Sarawak established Petros as its state-owned oil and gas entity in 2017, a move that initiated complex legal and political negotiations concerning resource ownership and management rights established under the PDA. While a Commercial Settlement Agreement (CSA) was agreed upon in principle between Petronas and the Sarawak state government in 2020, several key components reportedly remain unresolved and require finalisation. The long-standing issue has significant political dimensions tied to state rights and resource sovereignty, alongside major economic implications for both Sarawak and the Malaysian federation as a whole.
Borneo Post
23-04-2025
- Business
- Borneo Post
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
