Petros the best thing to have happened to Sarawak — Chairman

Uggah gestures as Abang Johari shows off his new Petros jacket given to him as a token of appreciation during a candid moment at the Petros launch. Also seen are (from left) Sharbini, Hamid, Medan, Zuraimi, Morshidi (partly hidden) Heng and Dr Rundi.

KUCHING: The setting up of Petroleum Sarawak Berhad (Petros) is the best thing that has happened to the state, says its chairman Tan Sri Datuk Amar Hamid Bugo.

Though he admitted its establishment was a little late, it’s nevertheless ‘better late than never’ as Sarawak needed catalysts to sustain the social and economic growth required by its increasing population.

“Oil and gas has to be one of these catalysts. After all, they are our resources, or if you like, an engine of growth,” he said at the launch of Petros which was officiated at by Chief Minister Datuk Patinggi Abang Johari Tun Openg here Tuesday.

Hamid added that the setting up of Petros required a lot of courage, given the present uncertain global situation in the oil and gas industry, which is “beset by low prices and unpredictable American presidential policies.

“But as the saying goes, ‘when the going gets tough, the tough gets going’. This is one statement we must be guided by to achieve our ambition.”

The former state secretary also noted that Sarawak was very fortunate to have a chief minister like Abang Johari who is willing to go the extra mile to make things happen.

“Petros will certainly be behind him and I also want to thank him for having the confidence in the six of us Board of Directors,” he said on behalf of the other five board members namely Datu Zuraimi Sabki, Sharbini Suhaili, Heng Hock Cheng, Dato Mohammad Medan Abdullah and Datin Josephine Hilary Dom.

He acknowledged that Petros is up for a huge challenge ahead especially with the volatile global situation in the oil and gas industry.

“It is even more challenging given that all oil and gas activities in Sarawak, although very substantial, are controlled and monopolised not by the state.

“Nevertheless, we have to be brave musketeers and combine our experience and expertise to face the rough seas of challenges.”

He also expressed his confidence that Sarawak would soon be in a position to exercise sufficient control over activities in the oil and gas industry in the state so as to be able to fully support Petros as a major player and contributor in the development of domestic oil and gas industry.

On Petros’ vision, Hamid said the company aims to be a major player in the exploitation and utilisation of energy in Sarawak with its role eventually as an active and fully integrated oil and gas operator across the value chain upstream, midstream and downstream.

“When all these happen, we believe Petros will be able to provide opportunities, employment and businesses for our younger generation in building their skills and expertise to the next level.”

He hoped that players in the oil and gas industry would not regard Petros as a disruptive competitor butrather view the company as a facilitator, collaborator and government-linked entity that wanted to see values in working together.

“We want to share and in doing so benefit Sarawak and Malaysia as a whole. Like many other ventures, this gigantic task of making Petros cannot be achieved by us working in isolation.

“We need support from authorities and agencies. We need partners for capital and expertise and we plan to collaborate and work together with others in the industry.”

Deputy Chief Minister Datuk Amar Douglas Uggah, Minister of Utilities Dato Sri Dr Stephen Rundi, Minister of Local Government and Housing Datuk Dr Sim Kui Hian, Minister of Tourism, Arts, Culture, Youth and Sports Datuk Abdul Karim Rahman Hamzah, State Secretary Tan Sri Datuk Amar Morshidi Abdul Ghani and cabinet ministers were among those present to witness the launch of Petros.

Source: https://cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=1963

BN Must Be Aggressive To Recapture Miri Parliamentary Seat – Abang Johari

MIRI, Feb 19 (Bernama) — Sarawak Barisan Nasional (BN) components must go all out to recapture Miri parliamentary seat, once a BN stronghold but lost to the opposition for the first time in 2013, in the coming 14th General Election (GE14).

Chief Minister Datuk Patinggi Abang Johari Tun Openg said with all four BN component parties Parti Pesaka Bumiputera Bersatu (PBB), Parti Rakyat Sarawak (PRS), Progressive Democratic Party (PDP) and Sarawak United People’s Party (SUPP) now fully recovered after being embroiled in internal conflicts, chances of winning back the Miri parliamentary seat seem to be bright.

“We must win Miri parliamentary seat so that we can develop together for the future generation,” he said at the Chinese New Year Dinner organised by the SUPP Miri and Sibuti parliamentary liaison committee last night.

As such Abang Johari, who is also the state BN chairman, said the Miri community must think rationally during GE14 as it would determine the future of Miri as well as the development of Miri division.

“All four leaders in Sarawak BN component parties were Sarawakian, we will protect the state rights based on the constitution,” he added.

Meanwhile, SUPP Miri and Sibuti Parliamentary liaison committee chairman Datuk Lee Kim Shim said for the GE14, SUPP has formed an election committee with the election machinery ready to move once the campaigning starts.

“Together with our component parties PBB, PRS and PDP we will make sure that we win back the Miri parliamentary seat,” he said.

On another issue, Lee who is state Assistant Minister for Tourism, Arts and Culture hoped that the state government would study the possibility of turning Miri river located at Pullman Hotel to Kampung Wireless to be turned into a waterfront that could attract tourists similar to the Kuching Waterfront.

He also appealed to the Chief Minister to consider making Miri City as the headquarters of Sarawak-owned oil and gas company, Petroleum Sarawak Berhad (Petros).

“Miri has been the centre for oil and gas industry for over hundreds of years, it is hoped that Petros will play an active role in developing the oil and gas industry in Sarawak, particularly in Miri, creating more jobs and opportunities,” he added.

— BERNAMA

Source: http://www.bernama.com/bernama/v8/newsindex.php?id=1437276

Petros board formed, members all Sarawakians

Abang Johari (second left) accompanied by Unimas Vice Chancellor Professor Dato Dr Mohamad Kadim Suaidi (left), Minister in the Chief Minister’s Office (Integrity and Ombudman) Datuk Talib Zulpilip (on Abang Johari’s left) and others, tours the book exhibition area after opening the International Conference on Language Studies. — Photo by Muhd Rais Sanusi

KUCHING: The board of the newly formed Petros, Sarawak’s own oil and gas company, is made up of five Sarawakians who have retired from Petronas and Shell.

Chief Minister Datuk Amar Abang Johari Tun Openg highlighted this yesterday as he brushed aside rumours that Sarawak Energy Berhad (SEB) chief executive officer (CEO) Sharbini Suhaili might be appointed to the top position.

“No, he is the CEO of energy. We have formed Petros and appointed the board. For a start, we have five members. They are all Sarawakians who have retired from Petronas and Shell,” he told reporters after opening the International Conference on Language Studies (ICLS 2017) at Riverside Majestic Hotel here.

“We will work together to find the best person with experience to be appointed the CEO. The board will decide later,” he assured.

Most importantly, he pointed out, was forming and registering the company with the board first in order to look after Sarawak’s interest in the oil and gas sector.

“Now, it (Petros) is in the formative stage. We must have our own vehicle, after which we will work with Petronas to explore the upstream activities particularly,” he added.

Abang Johari disclosed that the government already has something in the pipeline which will be announced later and the State Legislative Assembly (DUN) would be informed of Petros structure in November when the sitting commences.

He also confirmed that the state government will take up 10 per cent share of the LNG Train 9.

“Petronas has confirmed and now it is just a matter of price,” he said.

Source: http://www.cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=1586

Abang Johari: Oil and gas companies must get relevant permits by July 1

KUCHING: Companies involved in the oil and gas industries in Sarawak must obtain the necessary licences and leases required under the Oil Mining Ordinance 1958 and Gas Distribution Ordinance 2016 starting July 1.

 

Chief Minister Datuk Patinggi Abang Johari Tun Openg said the licenses, including permits, leases and other approvals will cover all persons and companies involved in the oil and gas industries in Sarawak including their contractors, sub-contractors and vendors.

 

He added that licenses will be issued by the Sarawak government under the Oil Mining Ordinance (OMO) and Gas Distribution Ordinance (GDO), in accordance with legislative powers conferred on the state under the Federal Constitution.

 

The state government will carry out engagement with all oil and gas industry players beginning next month on laws and regulations compliance including the Land Code and Natural Resources and Environment Ordinance. The session will also touch on penalties and consequences of non-compliances.

 

“This is normal practice. When you do business in other countries, you have to adhere to their regulations as well. We are asserting our rights within the Federal Constitution to regularise oil and gas operations in the state,” he told reporters after a MoU signing ceremony between Bintulu Port Authority and Bintulu Supply Base Sdn Bhd here Thursday.

 

Abang Johari said the regulating of both upstream and downstream of the oil and gas production, as well as gas distribution in Sarawak is crucial to the state’s planning to expand its economy and enhance level of participation by locals in the oil and gas industry.

 

He added that the forthcoming amendments to OMO 1958, to be tabled in the next Sarawak Legislative Assembly sitting, will require all oil and gas industry players in Sarawak, including Petronas, to comply with the ordinance.

 

“Section 2, Section 6 and Section 8 of the Petroleum Development Act (PDA) 1974 undoubtedly confirm that all industry players must comply with OMO and other state laws including the Land Code of Sarawak in regards to land use and occupation in the state.

 

“Under Section 8 of the PDA, only the Petroleum Mining Act 1966 (except Section 14 thereof) is not applicable to Petronas. Section 14 of the Act, which no longer applies to Sarawak, requires Petronas to seek permission to use and occupy land needed for its activities,” Abang Johari said.

 

He added that Petronas, not being exempted by the PDA from compliance with the Sarawak Land Code, must have licenses or leases to use and occupy land including the continental shelf for the production of oil and gas in accordance to the land code.

 

Touching on the GDO, the chief minister said all persons and companies undertaking the distribution of gas, including the setting up of gas processing, separation or regasification plants and pipelines will be required to obtain a license.

 

The Gas Distribution (License) Regulations 2018 would set out the procedures for applying for license and fees payable by licensees, Abang Johari said.

 

Petroleum Sarawak Bhd (Petros), under direction of the state government, will enter into Mining and Production Sharing Agreements with Petronas and other major industry players. Petros would also be granted license by the state to distribute Gas from Petronas processing separation plant at Tanjung Kidurong in Bintulu.

 

Source: https://www.thestar.com.my/news/nation/2018/04/19/abang-johari-oil-and-gas-companies-must-get-relevant-permits-by-july-1/

Petros untuk runding royalti lebih tinggi

KUCHING: Penubuhan Petroleum Sarawak (Petros) yang dijangka beroperasi awal tahun depan adalah antara inisiatif kerajaan negeri untuk meneroka ruang bagi memperoleh lebih banyak royalti daripada hasil minyak dan gasnya.

Ketua Menteri, Datuk Amar Abang Johari Abang Openg, berkata rundingan royalti minyak dan gas sebanyak 20 peratus masih belum selesai berikutan ketidaktentuan ekonomi, selain harga minyak yang tidak stabil.

“Justeru, minggu hadapan saya akan menamakan lima Ahli Lembaga Pengarah Petros dan mereka ini akan bermesyuarat untuk memilih Ketua Pegawai Eksekutif (CEO).

“Bagaimanapun, masih di peringkat awal untuk memperincikan peranan sebenar Petros, …ia akan diperjelaskan bila tiba masanya,” katanya.

Beliau berkata demikian selepas menyaksikan Majlis memeterai Memorandum Persefahaman (MoU) antara PETRONAS dan Perbadanan Urusan Kejuruteraan dan Limbungan Brooke, di sini.

MoU berkenaan bagi membangunkan semula pelantar minyak Fasa 3 Bokor yang berada 45 kilometer barat laut Lutong Miri, yang bernilai RM480 juta.

Dalam majlis itu, PETRONAS diwakili Naib Presiden Pengeluaran, Pembangunan dan Aset Malaysia, Mohd Jukris Wahab, manakala Perbadanan Urusan Kejuruteraan dan Limbungan Brooke, diwakili Pengurus Besar, Norhizan Sazali.

Turut hadir, Menteri Muda Pengangkutan Sarawak, Datuk Dr Jerip Susil; Presiden dan CEO Kumpulan PETRONAS, Datuk Wan Zulkiflee Wan Ariffin.

Mengulas lanjut, beliau berkata, berkata kerajaan negeri memahami peranan PETRONAS sebagai ‘jurubank’ kepada kerajaan Persekutuan, namun syarikat minyak negara itu juga perlu memastikan hak Sarawak turut diberikan secara adil.

Source: https://www.bharian.com.my/bisnes/pasaran/2017/08/314123/petros-untuk-runding-royalti-lebih-tinggi

S’wak to implement O&G regulating laws starting July 1

Abang Johari (centre) with some of the people at the Aidilfitri gathering in MUC hall.

 

SIBU: Sarawak will implement regulating laws for oil and gas activities in the state effective July 1, following the recent dismissal of Petrolisam Nasional Bhd’s (Petronas)’s leave application to commence proceedings against the Sarawak government.

Chief Minister Datuk Patinggi Abang Johari Tun Openg said this step was in accordance with the laws as stipulated in the Federation Board that needed to be adhered to by all parties.

“This means certain part of the power under The Oil Mining Ordinance (OMO) 1958 will be implemented by Petros (Petroleum Sarawak Bhd),” he told reporters when asked to comment on the Federal Court’s decision during the Aidilfitri gathering organised by DUN N55 Nangka at MUC hall here today.

Responding to a related question, Abang Johari said only Sarawak government has the right to manage (oil and gas activities) in the state from the aspect of laws stipulated in the Federation Board and that need to be complied with.

When asked whether Petronas needs to apply for permit from the Sarawak government to be involved in the oil and gas activities in the state after this, Abang Johari said,”what has happened now we have the state laws, which Petronas needs to comply.”

He said Sarawak would not create difficult conditions or abnormal situations for the oil and gas industry in the state and would ensure activities are carried out as smoothly as before.

Among those present were the Chief Minister’s wife, Datin Patinggi Juma’ani Tuanku Bujang, Assistant Minister of Technological Research and Education Dr Annuar Rapaee and Temenggong Datuk Wan Hamid Edruce.

Source: https://cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=2106

Sarawak to implement regulatory rights on oil, gas beginning July 1

BEGINNING July 1, Sarawak will implement regulatory rights on oil and gas activities in the state, said Chief Minister Abang Johari Openg.

He said this following the federal court’s dismissal of Petroliam Nasional Bhd’s (Petronas) application for leave to commence proceedings against the Sarawak government’s move to regulate the state’s petroleum activities.

Abang Johari said the state government’s move was in accordance with the law stipulated in the federal constitution.

“This means that some of the powers under the Oil Mining Ordinance (OMO) 1958 will be implemented by Petros (Petroleum Sarawak Bhd),” he said.

Yesterday, Chief Judge of Malaya Ahmad Maarop dismissed Petronas’ application after deciding that the federal court could not hear the matter, as the declaratory relief sought by the national oil company was not covered under the jurisdiction of the federal court, but the high court.

Abang Johari said only the Sarawak government had the rights to regulate the oil and gas activities from the point of law as stipulated in the federal constitution.

When asked if Petronas needed to apply for a permit or permission from Sarawak to be involved in oil and gas activities in the state hereafter, he replied: “What is happening now is that we have the state law that Petronas must abide to.”

Sarawak would not create a difficult environment with abnormal conditions for the oil and gas industry in the state, and would ensure that it continued to run smoothly, he said.

Abang Johari said Sarawak’s next state legislative assembly sitting would table the bill to amend OMO 1958, as some of the matters in the ordinance were no longer relevant with the current situation. – Bernama, June 23, 2018.

Source: https://www.themalaysianinsight.com/s/56436

S’wak to implement O&G regulating laws starting July 1

Abang Johari (centre) with some of the people at the Aidilfitri gathering in MUC hall.

 

SIBU: Sarawak will implement regulating laws for oil and gas activities in the state effective July 1, following the recent dismissal of Petrolisam Nasional Bhd’s (Petronas)’s leave application to commence proceedings against the Sarawak government.

Chief Minister Datuk Patinggi Abang Johari Tun Openg said this step was in accordance with the laws as stipulated in the Federation Board that needed to be adhered to by all parties.

“This means certain part of the power under The Oil Mining Ordinance (OMO) 1958 will be implemented by Petros (Petroleum Sarawak Bhd),” he told reporters when asked to comment on the Federal Court’s decision during the Aidilfitri gathering organised by DUN N55 Nangka at MUC hall here today.

Responding to a related question, Abang Johari said only Sarawak government has the right to manage (oil and gas activities) in the state from the aspect of laws stipulated in the Federation Board and that need to be complied with.

When asked whether Petronas needs to apply for permit from the Sarawak government to be involved in the oil and gas activities in the state after this, Abang Johari said,”what has happened now we have the state laws, which Petronas needs to comply.”

He said Sarawak would not create difficult conditions or abnormal situations for the oil and gas industry in the state and would ensure activities are carried out as smoothly as before.

Among those present were the Chief Minister’s wife, Datin Patinggi Juma’ani Tuanku Bujang, Assistant Minister of Technological Research and Education Dr Annuar Rapaee and Temenggong Datuk Wan Hamid Edruce.

Source: http://www.cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=2106

Malaysia’s debt profile can mitigate currency, interest rate shocks

MALAYSIA’s debt profile, mainly funded by the ringgit, acts as mitigation against currency or interest rate shocks.

Moody’s Investors Service sovereign risk group assistant vice-president Anushka Shah said the debt profile factored in Malaysia’s A3 rating.

“The rating is underpinned by strong growth, large and diverse economic structure and ample natural resources. Malaysia is also one of the fastest-growing A-rated sovereigns,” she said at Moody’s Media Roundtable: Inside Asean – Spotlight on Malaysia, in Kuala Lumpur, today.

However, Anushka said, there were concerns Malaysia’s government debt to gross domestic product of about 51% was higher than the 41% median of other A-rated sovereigns. 

“Other concerns include the declining growth rate of the working-age population and downside global risks such as trade protectionism,.

Anushka said Malaysia’s large buffer of foreign-exchange reserves could also mitigate external vulnerabilities.

“The government is maintaining its fiscal deficit reduction stance and committed to a reform policy agenda,” she said.

On the impact of 1Malaysia Development Bhd debts on the country’s rating, she said, the current probability of debt crystallisation from 1MDB was low and was not viewed as a risk to Malaysia’s fiscal position.

Meanwhile, on Petroleum Sarawak Bhd (Petros) starting oil and gas (O&G) exploration this year, Moody’s vice-president Vikas Halan said it was too early to quantify the impact.

“We do not how this will pan out but we see that Petronas won’t be much impacted. It is too early to say but our base case is no change in legal status of Petronas as the exclusive explorer and owner of the (oil) resources,” he said. 

Sarawak Chief Minister Abang Johari Tun Openg recently said Petros would kickoff its exploration activities in Miri this year after the state assumed full regulatory control over both upstream and downstream O&G activities. 

“For us, it is wait and see (the impact). Moving forward, all exploration will come under this company but nothing that Petronas is producing will go away,” said Vikas, adding that, it would be better to have an open industry. – Bernama, March 21, 2018.

Source: https://www.themalaysianinsight.com/s/44310

Petros has no hand in Oman venture – CMO

Petros has nothing to do with the venture in Oman as alleged in Sarawak Report article. – File photo.

KUCHING: The Chief Minister’s Office (CMO) today clarified the online portal Sarawak Report’s reference to Petros in its July 20 article has got nothing to do with the state-owned petroleum company.

The office in a press statement was referring to the article entitled “Taib’s Secret Interest in Sarawak’s Petros Venture”.

It was understood that the article has gone viral in many chat groups and the social media. The CMO statement too has also been uploaded in Facebook.

“With regards to the content of the article, this office wishes to clarify that Petros, the state oil company and co-regulator of the oil and gas industry in Sarawak have nothing to do with the venture in Oman as alleged in the article,” CMO statement said.

Though there was a MoU signed but it had lapsed and it was merely an understanding for Petros to assist should the company intended to invest in Sarawak, the CMO statement added.

At best the article is only a speculation in an attempt to smear PETROS’ image for reasons only known to Sarawak Report, the CMO statement claimed.

Source: https://cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=2146

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