Sabah to Acquire Stake in Two Oil and Gas Fields through PETRONAS Partnership

Sabah Chief Minister Datuk Seri Hajiji Noor announced that his government will acquire a 30% stake in two new oil and gas fields on the state's east coast. This move is part of the state government's efforts to strengthen Sabah's participation in the oil and gas industry through a strategic collaboration with PETRONAS under the Commercial Collaborative Agreement.

The agreement also includes the acquisition of 40% equity in the floating liquefied natural gas facility project in Sabah. Hajiji said that this partnership will be signed soon, and it will open up space for local companies to be involved in the industry's development.

Hajiji emphasized that the state government is focused on strengthening financial performance and increasing state revenue collection as an important foundation in driving Sabah's development. He mentioned that since 2022, the state government has maintained revenue collection annually at the RM7 billion level, and expects it to increase to RM8 billion this year.

The Chief Minister also highlighted the state's economic resilience in facing various domestic and global challenges, which has strengthened Sabah's position as a strategic investment destination. He noted that in 2025 alone, RM7.6 billion in investment value in the manufacturing sector was recorded, almost 208% against 2024.