By Karen Bong
KUCHING, Oct 24: Sarawak will continue to work for the mutual benefit of the petroleum industry both in the State and the nation as a whole, said Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg in response to reports that Sarawak contributed the highest share of Malaysia’s petroleum earnings between 2018 and 2024.
“Certainly, Sarawak is the major producer in Malaysia. That’s why it is better for us to work together for the mutual benefit of the petroleum industry both in Sarawak and the nation as a whole,” he said when interviewed after launching Sarawak Regatta and Kuching Waterfront Festival 2025 at Kuching Waterfront today.
Abang Johari’s remarks reaffirm Sarawak’s commitment to ensuring the continued growth of Malaysia’s petroleum sector through collaborative efforts that balance national interests with the State’s aspiration for greater participation and value creation in the industry.
Sarawak has emerged as the country’s top petroleum revenue contributor, generating RM285.4 billion of Malaysia’s total RM775.2 billion in petroleum income during the six-year period.
According to data from Petroliam Nasional Bhd (PETRONAS), the remaining revenue came from Peninsular Malaysia (RM284.8 billion) and Sabah (RM205.0 billion).
Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said revealed that total petroleum investments nationwide during the same period reached RM256 billion, with Sarawak accounting for RM113.2 billion, followed by Peninsular Malaysia (RM86.5 billion) and Sabah (RM56.3 billion).
She added that the overall investment-to-upstream revenue ratio stood at 33 per cent, with Peninsular Malaysia recording 30 per cent, Sabah 27 per cent, and Sarawak leading at 40 per cent — highlighting the state’s significant reinvestment in the upstream oil and gas sector.
Azalina disclosed the data in a written reply published on Parliament’s website on Thursday, as reported by Bernama, in response to Mordi Bimol (PH–Mas Gading) who had requested detailed figures on PETRONAS’ annual exploration and production costs and the corresponding cost-to-revenue ratios for each producing state between 2018 and 2024. — DayakDaily
