Petros will need strategic alliances to grow, says Abang Jo

Posted on 01/12/2024

Sarawak premier Abang Johari Openg speaking in Miri after a groundbreaking ceremony for a power plant. (Ukas Facebook pic)

PETALING JAYA: Sarawak is not being greedy in its demands over oil and gas resources, and will further develop the state oil company Petros, said Sarawak premier Abang Johari Openg.

He said Petros will need strategic alliances with other partners in order to further develop itself, the Sarawak Tribune reported.

“I believe in organic development. You have to start somewhere. And then you grow together and build this company. And you must have a strategic alliance with other partners.

“You cannot be on your own. Petros cannot be on its own only. Petronas cannot be on its own only. Other companies cannot be on their own. There must be synergy and there must be collaboration between us,” he said at a groundbreaking ceremony for a power plant in Miri.

Sarawak has appointed Petros to be the sole aggregator for gas distribution in Sarawak. The move is disputed by Petronas, the national oil company.

Abang Johari dismissed accusations that the state was being “greedy” about oil and gas reserves, saying it was a matter about managing its resources that would result in positive results for the state and the country.

Since Sarawak produce the gas, the state must have a say in the matter, he said.

“Constitutionally, we have the right to gas distribution. And we appointed Petros as the sole gas aggregator. And we do this based on our law.

“Hence, I and the Sarawak government, we develop according to the law and legislation. And we share (our resources).”

Sarawak’s move has been viewed with concern by analysts and others in the industry, who said it could backfire with both state and federal governments standing to lose from such an arrangement.

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