Latest news with #RM92
Daily Express
14-05-2025
- Business
- Daily Express
Latest SMJ Energy crude oil sale generates RM92 million
Published on: Thursday, May 15, 2025 Published on: Thu, May 15, 2025 Text Size: The company's Samarang Production Sharing Contract (PSC), an offshore asset located in Sabah waters, continues to be a reliable revenue source for the energy provider. Kota Kinabalu: SMJ Energy Sdn Bhd (SMJ Energy) completed its ninth crude oil lifting operation at the Labuan Crude Oil Terminal, generating approximately RM92 million in sales revenue. The latest sale brings SMJ Energy's total oil and gas revenue to roughly RM1.7 billion since operations began, with RM158 million generated in 2025 alone. The company's Samarang Production Sharing Contract (PSC), an offshore asset located in Sabah waters, continues to be a reliable revenue source for the energy provider. The Samarang field serves as the exclusive natural gas supplier to Kota Kinabalu Industrial Park and powers three gas plants in the Kota Kinabalu area. Additionally, the field supplies natural gas to Labuan, providing essential energy to the Labuan Methanol Plant and the SESB Power Plant on the island. SMJ Energy continues to explore further optimisation opportunities within the field to enhance output and maximize returns. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
14-05-2025
- Business
- Daily Express
Ninth crude oil lifting nets RM92 million for SMJ Energy
Published on: Wednesday, May 14, 2025 Published on: Wed, May 14, 2025 Text Size: KOTA KINABALU: SMJ Energy has completed its ninth crude oil lifting from the Samarang Production Sharing Contract (PSC) at the Labuan Crude Oil Terminal. The latest lifting is expected to generate RM92 million in sales revenue, marking another milestone in the company's upstream performance. Cumulative crude oil and gas sales now stand at RM1.7 billion, with RM158 million earned since early 2025, reinforcing Samarang's strategic role in SMJ's revenue stream. This reflects SMJ Energy's solid investment in the offshore Sabah-based PSC and its commitment to operational excellence and value creation. Samarang PSC remains a key supplier of gas to KKIP, three power plants here, the Labuan Methanol Plant 1, and SESB's Labuan facility. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
