Who are the pioneering 5?

(From left) Datuk Seri Idris Jala; Dato Mohammad Medan Abdullah; Dato Isaac Lugun; Datuk Wee Yiaw Hin

KUCHING: Chief Minister Datuk Amar Abang Johari Tun Openg announced  on Tuesday morning members of the board of the newly-formed Petroleum Sarawak Sdn Bhd (Petros), Sarawak’s own oil and gas company, which would comprise five Sarawakians who were previously with Petronas and Shell.

Later in the afternoon he met the MA63 research team to London among whom is  a lawyer who has served in various key positions in Petronas, Dato Mohammad Medan Abdullah, CEO of Bintulu Port Holdings Bhd.

Taking the cue from Abang Johari’s statement that the five-member Petros board would comprise Sarawakians who have served in the oil and gas industry one time or another, The Borneo Post made an educated guess that with his credentials, Medan would be one of the ‘Pioneering Five’.

Speaking to The Borneo Post Adventure Team (BAT) in Bintulu in June, Medan said he had a ‘considerably lengthy’ meeting with the chief minister. Asked what he thought of setting up Sarawak’s own oil and gas company he confidently replied: ‘It’s good for Sarawak’.

There was excitement in the air during the conversation with BAT sensing that good things would be happening to Sarawak in the oil and gas sector.

Who is Medan?

He has more than 30 years experience working in the oil and gas industry value chain under his belt – from upstream to midstream, downstream and marketing and trading.

In his own words during the BAT interview: “I was then the managing director and CEO of Malaysia LNG Group of Companies (2007-2010), contributing significantly to national and state economy to the tune of more than four per cent of the Malaysian GDP and 40 per cent of the gross exports from Sarawak.”

Probing deeper, The Borneo Post talked to several industry players about the composition of the board and the names of a few prominent figures who had worked with Shell and Petronas, cropped up as possible candidates.

Performance Management and Delivery Unit (Pemandu) CEO Datuk Seri Idris Jala is a possible board member. He has spent 23 years in Shell, rising up the ranks to hold senior positions, including as vice president of Shell Retail International and Business Development Consultancy based in the United Kingdom.

The other name bandied about was Heng Hock Cheng, who was the managing director of Shell Gas and Power Malaysia. He retired from Shell in October 2006 after working 34 years in the upstream, downstream and gas and power divisions.

He served in various Shell entities in Malaysia, UK, Holland and China, holding, among others, the positions of manufacturing superintendent of Lutong Refinery, engineering manager, technical director of Sarawak Shell Berhad – Sabah Shell Petroleum Co Ltd and chairman of Shell China based in Beijing.

Cagamas non-executive director Datuk Wee Yiaw Hin’s name was also mentioned. He was attached to Shell for over 21 years in Malaysia and overseas, including the United Kingdom and South Africa where his last position was vice president (Malaysia) for Upstream International Asia and managing director of Shell Malaysia Exploration and Production Companies.

Wee joined Petronas as executive vice president and CEO of Upstream Business in May 2010. He was a member of the company’s board of directors (at the group level) and the executive committee, and chaired/sat on the boards of several companies.

Cahya Mata Sarawak Bhd group chief corporate officer Dato Isaac Lugun was also speculated to be a Petros board member. Holding a Bachelor of Law (LLB) degree from the University of Malaya in 1981, he worked for eight years in various senior positions in Legal Department of Petronas, including senior management role at Asean Bintulu Fertilizer Sdn Bhd, a joint venture of the then five Asean countries.

Another name mentioned was that of State Secretary Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani who served as the management executive of Petronas from 1980 to 1988 and has been a Petronas director since Nov 1, 2016.

Also mentioned was the name of Petra Energy Bhd executive director and CEO Datuk Anthony @ Firdauz Bujang. He held various positions in Sarawak Shell Berhad such as secretary and adviser to the Major Tenders Board and head of General Contracts and Strategy, Planning and Procurement for Shell Gabon, Republic of Gabon, West Africa.

One other prominent figure whose name cropped was State Legislative Assembly deputy speaker Dato Gerawat Gala. He was formerly general manager for Corporate Services of Sarawak Shell Berhad, Sabah Shell Petroleum Co Ltd and Shell Sabah Selatan Sdn Bhd and was also general counsel for Shell Malaysia group of companies.

He later became a board member and company secretary of Sarawak Shell Berhad, Sabah Shell Petroleum Co Ltd, Shell Sabah Selatan Sdn Bhd and a few other downstream Shell companies.

Gerawat was formerly company secretary for Shell Refining Company Berhad and member of the country’s management team for Shell Malaysia group of companies.

However, since Abang Johari has said none of the board members are politicians, it is unlikely Gerawat would be appointed to the Petros board.

Other outstanding Sarawakians who are still serving in Petronas include Ruslan Abdul Ghani senior general manager, productions and operations manager, Malaysia Petroleum management, Petronas and Janin Girie country chairman at Petronas Carigali Nile Ltd South Sudan.

Observers believe Petros’ priority now should be to appoint a CEO and chairman capable of bringing forward Sarawak’s agenda in the oil and gas industry.

Here is a quote borrowed from the wisdom of a legal mind: ‘The key will be who is the CEO and chairman. A wrong choice could cause Petros to go sideways instead of forward. Of course, the board collectively needs to drive the agenda’.

Source: http://www.cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=1588

LRT to ease traffic congestion, says Abang Johari

Abang Johari (fifth right), Salleh on his right and Dr Sim on his left, strike the drums to mark the launch of ‘Harmony Nite’ at Kota Sentosa Square. Also seen are Juma’ani (seventh right) and Morshidi (third right). — Photo by Muhammad Rais Sanusi

KUCHING: The highly-anticipated Light Rail Transit (LRT) project in the state will enter a new phase with the announcement of its major routes by Chief Minister Datuk Patinggi Abang Johari Tun Openg this March 29.

When officiating at the ‘Harmony Nite’ themed ‘United We Stand’ at Kota Sentosa Square on Saturday night, the chief minister said the aim of the project, slated for works from early next year to 2029, is to ease traffic congestion in areas that are currently or expected to be experiencing extensive development growth.

He, however, hinted that one of the routes of the LRT would be to Mile 7 Bazaar, which has been experiencing rapid growth in terms of economic, residential and social infrastructures.

“Last time, there was no (traffic) jam in the bazaar as compared to now. This is one of the reasons why we have proposed for the LRT project to be built,” said Abang Johari.

He added that despite its positive impact, the LRT project still receives numerous criticisms from a certain opposition party member.

“His criticisms are ‘boleh tahan’ (quite severe) but when the project is completed, he himself will ride in the LRT,” he quipped.

He pointed out that the trains for the LRT would use hydrogen technology, which is currently used and being developed in China.

On another note, Abang Johari said the state government has fulfilled its promise to develop and improve infrastructure and bring in development projects, which have benefitted the people by providing various economic opportunities.

He pointed Kuching Sentral and the proposed low-cost carrier terminal (LCCT) airport – a collaboration between the state government and AirAsia – as among the development projects that could bring rippling effects to the people in Kota Sentosa, especially those in Mile 7 Bazaar.

“The airport will bring in more tourists to the state and who will benefit from such infrastructure? Of course, it will be the people in Kota Sentosa.”

Abang Johari emphasised that all the various development projects proposed and carried out by the state government would not be able to be realised without stability.

As such, there must unity and harmony among the people of various races and religions in the state, he stressed.

“We all live like one big family – we can eat and sit together at ‘kopitiams’ (coffe shops). Let it be this way,” he reminded.

Abang Johari also promised to continue the policies of the late chief minister Pehin Sri Adenan Satem, who had emphasised on numerous times never to label the Chinese as the ‘pendatang’ (immigrants).

“The Chinese are born and raised here (Sarawak) – they are Sarawakians. This is our policy and will continue to be our policy,” Abang Johari pointed out.

He also said the state government had increased its assistance to Chinese medium schools to RM7 million, recognised the Unified Examination Certificate (UEC) and announced the assistance of RM500,000 to SJK Sam Hap Hin, Kota Sentosa.

He praised Prime Minister Datuk Seri Najib Tun Razak for the mega projects in the state such as the Pan Borneo Highway development and at the same, he expressed confidence in Sarawak leaders to manage the state’s Development Bank of Sarawak (DBOS) and Petroleum Sarawak Bhd (Petros).

“The prime minister has also listened to us in our negotiations under the MA63 (Malaysia Agreement 1963). We (Sarawak) just want to take back our eroded rights – no more, no less. That is how we negotiate,” said Abang Johari.

He also said the federal government had allocated RM500 million to add to the state’s RM1 billion to upgrade and build Internet infrastructures as the backbone of Sarawak’s digital economy.

Also present were Abang Johari’s wife Datin Patinggi Dato Juma’ani Tuanku Bujang, Communications and Multimedia Minister Datuk Seri Salleh Said Keruak, Works Minister Datuk Seri Fadillah Yusof, Local Government and Housing Minister Datuk Sim Kui Hian, and State Secretary Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani.

Source: https://cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=2001

CM: My initiatives will propel the state

Abang Johari taps the tablet to symbolically launch Leader’s Digest, witnessed by Morshidi (third right), Sabariah (right), Segaren (on Abang Johari’s right) and others. – Photos by Muhammad Rais Sanusi

KUCHING: Chief Minister Datuk Patinggi Abang Johari Tun Openg is confident that all the initiatives he has announced thus far will propel Sarawak forward.

He said as a leader, one must be willing to take risks, much like what he has done in setting up Sarawak’s very own petroleum company Petroleum Sarawak Berhad (Petros).

“It is not easy to announce Petros due to factors such as its status and the laws that are involved.

“But I dare to take the risk because I believe that we have the legal argument in our favour, and I think we are on the right track because we feel that our legal position is very clear in the Constitution and it is the supreme law of the federation,” he said at the Leadership Institute’s Appreciation Night held here last night.

Abang Johari recalled that since he launched Petros, it has caused quite a stir throughout the whole country.

“I was even informed by my friend in Singapore today (yesterday) that the Straits Times there has a whole page about Sarawak gaining control of oil and gas,” he said with a chuckle.

He also reiterated that with the establishment of Petros, Sarawak would have regulatory control over its oil and gas and that industry players would have to comply with the state’s laws.

“It’s just like having your own land and title but if you want to build a house on your land, you would need approval from the government first. If the government says you need to amend the plan, then you have to do so even if it’s your land.

“The same applies with our oil. Sarawak has the right on its land and if Shell, for example, wants to put a platform here, they have to ask us. It is that simple and that is the right of the government,” he stressed.

He also informed that when he first took office as chief minister, he pledged that he would do his best to protect Sarawak.

“I believe I have that power in me and this is what leadership is all about. We must be daring enough to bring changes to ourselves and the country.”

During the dinner, Abang Johari also launched the Leader’s Digest – a fortnightly in-house publication which features a collection of articles on leadership and professional development.

Also present were Abang Johari’s wife Datin Patinggi Dato Juma’ani Tuanku Bujang, State Secretary Tan Sri Datuk Amar Mohd Morshidi Abdul Ghani, Deputy State Secretary Datu Dr Sabariah Putit, who is also Leadership Institute executive director, and the institute’s chief operating officer Segaren Arumugam.

Source: http://www.cm.sarawak.gov.my/modules/web/pages.php?mod=news&sub=news_view&nid=1977

Bidayuh oil and gas veteran picked as Petros CEO, industry sources say

OIL industry veteran Saau Kakok is expected to head Sarawak-owned Petroleum Sarawak Bhd (Petros) after months of searching for a chief executive officer, industry sources say.

Saau, who was former special projects vice-president for Asia of the US-based independent oil company Hess Corporation, is the man Sarawak Chief Minister Abang Johari Openg has headhunted for the job and was not among the numerous applicants for the post, they said.

The 64 year-old is one of only a handful of Bidayuh oil and gas executives holding very senior positions in a multi-national petroleum company.

According to his profile on his LinkedIn page, he resigned from his vice-president position at Hess at the end of last year.

Abang Johari on Sunday said he has found “the right person for the job” and gave only one hint – that the person was a Bidayuh with experience in oil and gas industry.

The Bidayuh are the second largest of state’s ethnic tribes.

Petroleum-rich Sarawak formed Petros last year amid long-standing unhappiness over the 5% oil and gas royalty the state receives from the federal government. Sarawak has been demanding that the amount be increased to 20%.

The state government said Petros would be of “equal status” as national oil company Petronas and was meant to protect Sarawak’s interest in the industry by allowing it to participate in upstream oil and gas development, particularly in the exploration and extraction of oil and gas within Sarawak waters.

Oil and gas executives have told The Malaysian Insight that Saau was indeed picked for the job as the native of Ulu Padawan, located just outside Kuching the state capital, was a person with vast experience in the industry.

“It’s Saau. We are positive it’s him as he has been having a few meetings with Petros board chairman Hamid Bugo over the position this week,” an executive said.

Saau joined Hess in 2011 as vice-president of global new business development.

He completed his tertiary education at University of Malaya, graduating with honours in a Bachelor of Engineering degree in 1977.

Like many Sarawakians, he first joined the oil and gas industry via Shell.

His LinkedIn page stated his last position at Shell as vice-president of Shell EP International Ltd, a position he held from 2007 to 2009.

In Hess, Saau has held several positions including vice-president for Asia-Pacific, as a director in Hess Malaysia and Thailand Ltd, in Hess Oil & Gas Sdn Bhd and in Hess (Indonesia-South Sesulu) Limited.

He was with the London-based Hess (Indonesia-South Sesulu) Ltd from January 2014 to December 31, 2016.

Wilfred Nissom, one of his former teachers at the Dragon Secondary School (later renamed SMK Tun Abdul Razak), described Saau as “very sharp but quiet and humble”.

He also remembered Sauu as being a good athlete who had represented the school as a long-distance runner in inter-school sports meets.

The Malaysian Insight was also told by industry sources that the “humble” Saau had expressed that he was not good enough for the job and had asked Hamid to look for someone else.

Last November, Hamid said the Petros board was in the midst of screening 40 applications for the post that was advertised in local and national newspapers.

The other members of the Petros board are Bintulu Port Holdings CEO Mohammad Medan Abdullah, Sarawak Energy Bhd CEO Sharbini Suhaili, former Shell Gas & Power Malaysia managing director Heng Hock Cheng and Sarawak Public Works Department director Zuraimi Sabki.

All of them had served in various capacities in the oil and gas industry. – February 14, 2018.

Source: https://www.themalaysianinsight.com/s/37884

PH ciplak janji pulangkan hak Sarawak : Abang Johari

PETRA JAYA : Janji pembangkang untuk mengembalikan hak Sarawak dan Sabah yang terkandung manifesto gabungan itu sekadar “pemanis” menjelang Pilihan Raya Umum Ke-14 (PRU14).

Ketua Menteri, Datuk Patinggi Abang Johari Abang Openg, berkata pemulangan hak itu sebenarnya sudah dibuktikan Perdana Menteri, Datuk Seri Najib Razak dan sudah pun dilaksanakan.

Sehubungan itu, katanya janji PH untuk mengembalikan hak Sarawak itu bukan hanya menciplak usaha Barisan Nasional (BN) malah jelas hanya sekadar untuk meraih sokongan menjelang PRU-14.

“Perkara itu (memulangkan hak Sarawak) sebenarnya sudah banyak dibuktikan Perdana Menteri antaranya menerusi pemberian hak kepada Petroleum Sarawak Berhad (PETROS) untuk menguruskan pengeluaran minyak di negeri ini.

“Mengapa ketika 22 tahun berkuasa (merujuk kepada Tun Dr Mahathir Mohamad) tidak memikirkan hal itu tetapi sekarang tiba-tiba pula menyebut mengenainya,” katanya.

Beliau berkata demikian kepada media selepas merasmikan Pameran Kerjaya dan Latihan Sarawak (SCaTFAIR) di Pusat Konvensyen Borneo Kuching (BCCK) di sini, hari ini.

Abang Johari berkata, beliau tidak hairan dengan janji yang dicipta pembangkang kerana ia ibarat “buah yang gugur” menjelang pilihan raya.

Sementara itu, mengenai pertemuan beliau dengan pemimpin Kerajaan Persekutuan di Putrajaya semalam, Abang Johari sekadar berkata ada perkara penting yang dibincangkan.

“Tunggulah, saya akan umumkannya,” katanya.

Terdahulu ketika berucap merasmikan majlis itu, Abang Johari menggesa rakyat negeri ini khususnya golongan muda supaya berusaha merebut peluang untuk bersaing dalam era teknologi digital.

“Kita mesti merebut peluang untuk menimba pengetahuan dan bersedia untuk berubah sesuai dengan perubahan zaman yang semakin maju.

“Jika tidak mahu ketinggalan, kita harus berubah, contohnya dalam perkhidmatan pengangkutan awam, pengusaha teksi harus menerima perubahan dengan kehadiran perkhidmatan bentuk baharu,” katanya.

Source: https://www.bharian.com.my/berita/politik/2018/03/397891/ph-ciplak-janji-pulangkan-hak-sarawak-abang-johari

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

Oil royalty issue won’t sway Sarawak voters, says Uggah

BARISAN Nasional is confident that the issue of oil royalty harped by Pakatan Harapan ahead of the 14th general election will not sway voter sentiment in Sarawak, said Douglas Uggah Embas.

The deputy chief minister said the promise to grant 20% royalty to Sarawak was an old one that was recycled by the opposition.

“This is an old issue, full control over the oil and gas industry in Sarawak has been given to the state government, we will get returns of more than 20 per cent (of the royalty),” he said after officiating the rabies mass vaccination programme in Miri today.

Uggah, who is also Parti Pesaka Bumiputera Bersatu (PBB) deputy president, said voters in Sarawak were wise enough to judge for themselves the state government’s efforts of reclaiming Sarawak’s rights as stipulated in the federal constitution.

On Tuesday, Chief Minister Abang Johari Openg announced that Sarawak would assume full regulatory control over the state’s oil and gas industry by July as part of the devolution of powers from the federal government.

Abang Johari made the announcement when he launched Petroleum Sarawak Berhad (Petros) and assured that Sarawak would exploit its natural oil and gas resources as provided for under the federal constitution.

He said the devolution of powers was in keeping with the agreement by Prime Minister Najib Razak to return to Sarawak the powers provided for in the Malaysia Agreement 1963 that had been inadvertently eroded over the years.

Sarawak Pakatan Harapan chairman Chong Chieng Jen, when launching the first phase of the opposition pact’s GE14 manifesto recently, was quoted as saying that the coalition would increase the oil royalty for Sarawak to 20% should they win the election. – Bernama, March 11, 2018.

Source: https://www.themalaysianinsight.com/s/42392

PKR wants assembly to discuss Sarawak’s oil and gas rights

PKR Sarawak vice-chairman and Batu Lintang assemblyman See Chee How wants the state assembly sitting to discuss the state’s oil and gas rights.

See said the special assembly sitting would make clear Sarawak’s collective stance with regard to three controversial laws – the Territorial Sea Act 2012, the Petroleum Development Act 1974, and the Tripartite Agreement signed between the federal government, state government and Petronas – that the chief minister had dismissed as “irrelevant”.

See said Chief Minister Abang Johari Openg’s many statements on the invalidity of the TSA, PDA and the agreement since the March 6 launching of Petroleum Sarawak Berhad (Petros) “make it sounds so simplistic”.

At the launch of Petros, the chief minister said the state had regained all the rights to its resources and that any person and company wishing to do business in the state’s oil and gas industry must have the necessary licences, permits, leases and approvals required under either the state’s Oil Mining Ordinance or the Gas Distribution Ordinance.

In a media conference two days later, Abang Johari said the TSA and PDA were “irrelevant” as they had violated Sarawak’s rights to its natural and hydrocarbon resources under the federal constitution. “any law that is ultra vires (beyond the powers) of the constitution under Article 4 of the federal constitution is void,” he said.

The chief minister had also asserted the state’s rights to its oil and gas were never surrendered upon the formation of Malaysia in 1963 and therefore the issuance of permits and licences for mines, mining leases and certificates in relation to the prospecting, mining and development of our petroleum resources were still intact.

The issuance of permits and licences were drawn up during the rule of the White Rajah and were later incorporated under Item 2(c) of the state list under the ninth schedule of the federal constitution.

“The chief minister had evoked a lively debate with his unequivocal announcement that Sarawak will assume full regulatory authority over its oil and gas upstream and downstream industry by July, at the launching of Petroleum Sarawak Berhad (Petros) on March 6.

“Elected representatives, aspirants vying for offices in the coming general election, academicians and political analysts have raised some legal but mostly political arguments in the tussle which by far have been entertaining and enlightening,” said See.

But he said it is the duty of the state leaders to protect the interests of Sarawak’s prized resources true to the spirit of “Sarawak First” and “Sarawakians First”.

“The special sitting of the Sarawak legislative assembly will provide a platform for the differing legal and political opinions, propositions and solutions to be deliberated, considered and adopted in order that Sarawak may speak and present itself with one unified voice.”

He said it would not be similar to the legislature’s motion on the request for 20% petroleum royalty, which was unanimously passed on May 7, 2014.

See said the chief minister is doing right to take a step further to pursue and assert the state’s autonomous rights over the valuable resources of oil and gas lying within the territorial boundary of Sarawak.

“I’m all for getting these things back but they should not be decided by himself or his cabinet.

“They must be brought to the assembly for a consensus.”

See also said the silence of Prime Minister Najib Razak and federal leaders “to Sarawak’s quest which is moving the earth under Sarawakians’ feet” was disconcerting.

“They are calm and relaxed, as if giving a nonchalant shrug, dismissing the expedition of the charging knights as a futile exercise.

“I am uneasy, and expecting the worst to come after the general election, as I think the stance of the federal government can be deciphered from the response of Petronas,” he said.

In a short statement to welcome and congratulate the setting up of Petros, Petronas said it was committed to supporting the state’s aspirations to actively participate in the state’s oil and gas industry “in line with the current framework of the Petroleum Development Act, 1974”.

“Despite what the chief minister and all other Sarawakians have said, Petronas is cool, referring us to look at the framework of the Petroleum Development Act, 1974.” – March 27, 2018.

Source: https://www.themalaysianinsight.com/s/45349

Affin Hwang upgrades Petra Energy to buy as risk-reward looks favourable

KUALA LUMPUR: Affin Hwang Capital Research says the risk-reward is looking favourable for Petra Energy and upgraded its rating to buy with a higher 12-month target price of 59 sen.

Accoding to the research house, Petronas has been issuing more contract awards and work orders while Petra Energy has also seen higher work orders for hook-up, construction and commissioning (HuCC) contract to the value of RM150mil.

Meanwhile, the maintanence, construction and modifgication contract with Petronas is also picking up momentum in terms of mor work programmes amounting to RM50mil by our estimates. 

“PENB has recently completed the production enhancement programme and is in the midst of
doing some commissioning work. Based on a back-of-envelope calculation, this will increase targeted production to approximately 5,500–5,800 barrels per day (from 4,500 barrels). 

“We are also positive that the KBM risk service contract (RSC), which is due to expire by mid-2020, stands a good chance of being extended, on the current high oil price and good production track record.”

Affin Hwang also believes that Petra Energy stands a good chance of wiinning a rebid for the HuCC contract for another five years, with a total outstanding orderbook current at RM1.6bil.

With regrds to operating in Sarawak, the research house said it understands that service providers like Petra Energy are still waiting for Petros to award licences although it should not have a problem in getting the licence.

Source: https://www.thestar.com.my/business/business-news/2018/07/05/affin-hwang-upgrades-petra-energy-to-buy-as-risk-reward-looks-favourable/

Petroleum Sarawak is not 1MDB, says Chief Minister

KUCHING: The state-owned Petroleum Sarawak Bhd (Petros) is nothing like 1Malaysia Development Bhd (1MDB) as alleged by a website, says Chief Minister Datuk Patinggi Abang Johari Tun Openg.

“There’s been a malicious (article) written on Petros. We have a transparent organisation. That website and has malicious intentions,” he said when opening the Brooke Dockyard and Engineering Works Corporation’s new Demak Yard here on Monday (March 4).

Source: https://www.thestar.com.my/news/nation/2019/03/04/petroleum-sarawak-is-not-1mdb-says-chief-minister/

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