Sabah Seals Deals for Significant Energy Stakes

Sabah, a state in Malaysia's eastern region of Borneo, is poised to secure a significant stake in a major floating liquefied natural gas (FLNG) project. According to Sabah Chief Minister Datuk Seri Hajiji Noor, the state will receive a 40 per cent stake in the FLNG facility under an agreement to be signed with Petronas within the next few months.

This development comes as a result of close cooperation between the state and federal governments, as well as an earlier agreement with PETRONAS that allowed Sabah's government to take on a more active role in the state's oil and gas industry.

In addition to the FLNG project, Sabah will also receive a 20 per cent stake in the oil and gas field in Sandakan secured by Petronas.