By Lian Cheng
KUCHING, Nov 20: For 2024, Petroleum Sarawak Berhad (Petros) has invested RM1.96 billion, which will increase to RM4 billion in 2025, to fund oil and gas projects in Sarawak, says Minister of International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan.
He said to date, Petros has awarded 62 percent of its contracts to Sarawak-based vendors.
“As part of Sarawak Gas Roadmap (SGR), Awang Tengah who is also Deputy Premier said, Petros is investing in midstream gas infrastructure to transport gas to four key hubs – Miri, Samalaju, Bintulu and Kuching.
“Petros is also developing gas-fired power plants to support power supply expansion as Sarawak is transitioning to a low carbon power mix. These projects include Bintulu-to-Samalaju pipeline and Miri 500MW Combined Cycle Gas Turbine power plant,” said Awang Tengah when delivering his ministerial address at Sarawak Legislative Assembly here today.
As a strategic initiative, he said, SGR aims to increase the domestic gas utilisation in Sarawak from the current 6 percent to 30 percent, creating over 100,000 high quality jobs for Sarawakian and boosting Sarawak GDP by 10 to 15 percent.
“SGR is expected to attract over RM150-200 billion in FDI and DDI, aligning with the Post Covid-19 Development Strategy 2030,” said Awang Tengah, who is Bukit Sari assemblyman (GPS-PBB)
He said Petros as the sole gas aggregator under the Distribution of Gas Ordinance 2016, ensures a balance-rationale of export and domestic gas needs, enabling greater gas allocation for local industrial development and critical gas infrastructure such as Samalaju and Kuching Hubs to meet both short term and future gas demands.
The oil and gas sector continues to be a key economic driver for Sarawak contributing approximately 40 percent to Sarawak’s GDP in 2023 and Petros stands as Malaysia’s third-largest oil and gas equity producer, actively participating in 20 Production Sharing Contracts (PSCs) in Sarawak, in partnership with international oil and gas majors, he added.
On carbon capture, utilisation and storage (CCUS), he said Sarawak’s landmass geology is estimated to have a carbon dioxide storage capacity of three trillion cubic meters, which will position Sarawak as a leader in carbon capture and storage development.
“Petros as the resource manager will lead the development of carbon storage sites in Sarawak,” said Awang Tengah. — DayakDaily
