Sabah Boosts Energy Participation with New Oil and Gas Investments

Sabah, a state in Malaysia, is expanding its participation in the oil and gas industry through new equity investments. The government plans to acquire a 30% stake in two newly developed oil and gas fields located along the state's east coast.

The move is part of a broader strategy to increase Sabah's ownership and economic benefits from its natural resources, according to Chief Minister Datuk Seri Hajiji Noor. The partnership has increased the state government's equity participation in the exploration and development of Sabah's oil and gas resources while creating additional opportunities for local companies to participate in the sector.

The state government is also planning to acquire a 40% equity interest in a floating liquefied natural gas (FLNG) facility project in Sabah. Hajiji said an agreement covering the partnership is expected to be signed soon, marking another major step toward strengthening the state's position in the natural gas value chain.