Sarawak Chief Minister Amar Abang Johari Tun Openg was quoted as saying the plan was discussed with Malaysian national oil corporation Petronas, which was very receptive to the idea of the state-owned company getting involved in upstream and downstream oil and gas exploration activities.
“I had discussions with Petronas, we are adopting a new approach. Sarawak will participate in both upstream and downstream oil and gas activities.
“In the upstream sector, this will be Sarawak’s maiden venture, as such, we need to set up a state-owned company in order to join Petronas in oil and gas exploration in the South China Sea.
“We will establish our company first. We will join Petronas to work out a deal with petroleum arrangement contractors,” Abang Johari said.
The Chief Minister said Sarawak companies had previously only been involved in downstream oil and gas activities in Bintulu. The increased involvement at state level could bode well for the beleaguered oil and gas services players in Sarawak.
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