By Olivia Miwil
KALABAKAN: Sabah is set to sign an agreement with Petronas that will see the state acquire a 40 per cent stake in a floating liquefied natural gas (FLNG) project.
Chief Minister Datuk Seri Hajiji Noor said the milestone was made possible through a cooperation agreement previously signed with Petronas, enabling the state government to participate more actively in Sabah's oil and gas industry.
"We have successfully reached an agreement with Petronas, and in the next few months, we will sign an agreement under which Sabah will receive a 40 per cent stake in the state's floating LNG project.
"In Sandakan, Petronas has secured an oil and gas field, and Sabah will receive a 20 per cent stake in the project there," he said after officiating the Kalabakan parliamentary constituency Jelajah Rakyat Programme and Madani Rahmah Sales Programme at the Kalabakan District Office Open Hall here.
Hajiji said the state and its people stood to benefit significantly from the strong relationship between the state and federal governments.
He said Sabah continued to attract growing investor interest due to the state government's investor-friendly policies, a fact acknowledged by foreign diplomats who had visited the state to explore investment opportunities.
"Nearly 40 foreign diplomats or high commissioners have met me over the past five years.
"They are attracted to our investor-friendly policies. They believe these policies will propel Sabah towards a brighter future, and that is exactly what we are working to achieve," he said.
Hajiji said existing industrial areas, particularly the Kota Kinabalu Industrial Park (KKIP) and the Sipitang Oil and Gas Industrial Park (SOGIP), were approaching full capacity due to strong investor demand.
As a result, he said, the state government was expanding new industrial zones, including the Palm Oil Industrial Cluster (POIC) on the east coast and industrial parks based on the blue economy.
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