Petronas Investments Total RM140 Bln

KUCHING: Petronas has invested RM140 billion in the development of oil and gas (O&G) sector in Sarawak to date.

According to Petronas vice-president of marketing (downstream business) Datuk Seri Syed Zainal Abidin Syed Mohd Tahir, 420 Sarawakian companies have registered as Petronas vendors so far.

I am proud to share that we have nearly 5,000 Sarawakians working for Petronas in Sarawak, as well as in our global operations, he said at the signing of an agreement on bitumen business collaboration in Sarawak between Petronas Dagangan Bhd and Pusaka Capital Sdn Bhd yesterday.

Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan, who is also the Minister of Industrial and Entrepreneur Development, witnessed the ceremony.

Syed Zainal Abidin said there are 60 O&G producing fields in the state, generating an average of 850,000 barrels of oil per day.

Moreover there are also 81 Petronas stations, fuelling the state’s thriving cities as well as its remote areas, he added.

Syed Zainal Abidin pointed out that as the custodian of the nation’s O&G resources, Petronas is committed to working together with the state government towards supporting its growth aspirations.

A part of this commitment includes contributing to the state’s socio-economic development as a long-term value driver.

He said Petronas is proud to have been working with Sarawakian companies, which have rendered their expertise to Petronas’ projects over the years.

He said since 2013, Petronas has awarded more than RM16 billion worth of jobs to Sarawakian companies � this year alone, 13 Sarawakian companies clinched jobs within and outside the state.

Today is another example of our commitment in growing together with the state. Led by Petronas’ retail marketing arm Petronas Dagangan Bhd, the partnership with Pusaka Capital Sdn Bhd is formed based on our mutual business objectives of growing the bitumen business in Sarawak, particularly in support of the development of the Pan Borneo Highway and coastal road projects, pointed out Syed Zainal Abidin.

He believed that the Pan Borneo Highway, being Sarawak’s largest infrastructure development project by far, would elevate the state’s economy to new heights � creating an eight-fold multiplier effect.

Petronas is proud to be part of this game-changing development, he enthused.

Syed Zainal Abidin said the collaboration between Petronas Dagangan and Pusaka Capital would expand the bitumen market, leveraging on Petronas Dagangan’s wide customer base and excellent storage facility � currently being developed in Tanjong Manis � to support the Pan Borneo Highway project.

Once completed in the first quarter of next year, the facility (in Tanjong Manis) � with a total of 12KMT (kilometric tonnes) in capacity � will be the biggest in Sarawak, and could prove to be crucial towards expanding the bitumen business in the state.

Today’s signing ceremony marks the beginning of a long-term partnership between Petronas Dagangan and Pusaka Capital in jointly contributing to Sarawak’s forthcoming development, he added.

Syed Zainal Abidin said he looks forward to working with Pusaka Capital as a team towards achieving and steering their mutual business objectives.

Petronas Dagangan managing director and chief executive officer Dato Ibrahimnuddin Mohd Yunus and Pusaka Capital chairman Datu Sarudu Hoklai were also present at the event.

Source: The Borneo Post