Kota Kinabalu: Sabah has continued its long-term collaboration with Shell International Eastern Trading Company (Sietco) by extending its ongoing sales and purchase agreement (SPA).
KOTA KINABALU: Sabah hopes to continue earning from its collaboration with Shell International Eastern Trading Company (SIETCO) as it extends its one-year Sales and Purchase Agreement (SPA) to three years.
Collaboration continues with agencies to enhance revenue – Masidi theborneopost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theborneopost.com Daily Mail and Mail on Sunday newspapers.
To date, SMJSB has successfully acquired the following profitable and producing oil and gas businesses and assets to create a balanced portfolio as a financial investor:
• 50pc participating interest in Samarang Production Sharing Contract (PSC) with Petronas Carigali Sdn Bhd as the operator. The PSC comprises seven existing oil and gas-producing fields with a production capacity of 36,000 barrels of oil and gas equivalent per day. SMJ has sold its first crude oil cargo in June 2023;
• Back-in option for up to 20pc participating interests in Block SB409 PSC upon completion of work commitment or commercial discovery, whichever is earlier; and
• 25pc equity interest in an integrated ammonia and urea production complex located in Sipitang Oil and Gas Industrial Park in Sabah (Samur).
Kota Kinabalu: SMJ Sdn Bhd (SMJSB), a wholly-owned subsidiary of the Sabah Government through the Chief Minister Incorporated of Sabah, successfully priced its inaugural RM900 million Islamic medium-term notes (Sukuk Wakalah) on Oct 16.