Petronas Group CEO: Sarawak to get more actively involved in onshore O&G activities

Petronas President and Group Chief Executive Officer Tengku Muhammad Taufik. Graphics courtesy of Bernama.

By Lian Cheng

KUALA LUMPUR, Dec 7: The signing of the Commercial Settlement Agreement witnessed today will establish a framework between Petroliam Nasional Berhad (Petronas) and the Sarawak state government that will see the state more actively involved in Sarawak’s onshore oil and gas activities through Sarawak Petroleum Berhad).

Petronas President and Group CEO Tengku Muhammad Taufik Tengku Aziz, who shared this view, believed that the framework will enable both parties to continue collaborating in upstream and downstream projects as well as in developing the Sarawak Gas Master Plan.

He added that today’s signing of the commercial settlement agreement will also encourage greater participation by Sarawak companies in the state’s energy sector.

“The signing ceremony today rightly encapsulates what we see as the spirit of collaboration and shared commitment.


“I am deeply encouraged by our achievements over the years together with the Sarawak state government.

“With the commercial settlement agreement in place, we look forward in continuing the momentum towards developing Sarawak’s energy sector for the long-term growth and prosperity of the state and the nation,” said Tengku Muhammad Taufik at the Commercial Settlement Agreement signing ceremony between the Sarawak government and Petronas held here today.

He said Petronas has disbursed a cumulative contract value of RM11.64 billion in the state to Sarawakian companies since 2014. The top ten largest Sarawakian players in the order of value of work for the state’s energy sector are Dayang Entreprise Sdn Bhd, Petra Resources Sdn Bhd, Serba Dinamik Sdn Bhd, MK Bumimas Resources Sdn Bhd, Maysville Sdn Bhd, Amalgamated Plant Engineering Sdn Bhd, Oceancare Corporation Sdn Bhd, Rahabco Engineering and Construction, Kejuruteraan Gemilang Jaya Sdn Bhd, and EP Engineering Sdn Bhd.

“To date, there are 574 Sarawakian companies who are Petronas-licensed and registered oil and gas vendors,” said Tengku Muhammad Taufik.

He said Petronas’ relationship with Sarawak has seen significant returns to the state as the group shares the same aspiration for its oil and gas sector.

“Beyond unlocking and adding value to its hydrocarbon resources, Petronas has had the opportunity to be part of the state’s journey in empowering its people through education, community well-being and development and environment efforts hand-in-hand with the Sarawak State Government and its agencies.”

The new group CEO who took over the helm of Petronas in June 2020 revealed that over the years, more than 6,700 Sarawakian students have benefitted from Petronas’ Education and Human Capital programmes.

Other initiatives focused on creating greater access to quality education include the Asrama Harian Luar Bandar in Paloh and the Maktab Rendah Sains MARA (MRSM) in Bintulu, in collaboration with Yayasan Sarawak and Majlis Amanah Rakyat.

“As we forge ahead in our partnership with the Sarawak state government, Petronas is committed to ensure our operations and efforts continue to uphold the highest standards of governance where value creation activities are conducted responsibly, safeguards the environment and makes positive social impact,” said Tengku Muhammad Taufik.

He stressed that the signing witnessed today is a testament to the mutual aspirations of both Petronas and the Sarawak government.

“On our part, Petronas remains firmly committed to grow and strengthen the long-term sustainability of the Malaysian oil and gas industry.

“As a progressive energy and solutions partner enriching lives for a sustainable future, Petronas will continue to support the aspiration of the Sarawak State Government in developing the industry for the benefit of the people of Sarawak and the nation,” said Tengku Muhammad Taufik. — DayakDaily

Read more:

Sarawak Gas Masterplan to involve more participation from Sarawakian O&G vendors

Petros to receive oil prospecting licences to explore northern Sarawak

Commercial Settlement Agreement inked, securing Sarawak’s commercial standing in O&G industry

PM: Perjanjian Penyelesaian Komersial rancakkan industri minyak dan gas Sarawak