Greater say over natural resource

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KUCHING: The newly-launched Petroleum Sarawak Bhd (Petros) will spearhead Sarawak’s participation in the strategic oil & gas sector and boost the state’s development.

Chief Minister Datuk Patinggi Abang Johari Tun Openg said the state-owned oil and gas company must build on its presence in Sarawak to grow and deliver sustainable economic benefits while safeguarding the state’s interests and resources.

“I believe it is important for Petros to be strong, effective and efficient in performing its mandated roles.

“Accordingly, Petros is required to seek guidance from the Sarawak government for broad policy direction in the execution of its strategic roles and responsibilities,” he said when launching the company.

Abang Johari added the state government would issue guidelines to Petros to ensure greater and more meaningful participation by Sarawakians and Sarawak companies in the oil & gas industry.

He said the state government also wanted to see Petros work together with Petronas in the upstream and downstream sectors of the industry.

“Both companies can contribute significantly towards the advancement of the oil and gas industry in Malaysia and the economic progress and prosperity of our nation,” he said.

During the launch, the Chief Minister named Saau Kakok, a Bidayuh with nearly 40 years’ experience in the oil and gas industry, as Petros’ chief executive officer.

Saau’s last position was vice-president for Asia at a United States-based independent oil company.

“Petros is fortunate to gain Saau’s experience, talent and vision. I am confident that he is the right person to lead Petros into the future, adding value to the careers of young Sarawakians while making Petros the best place to work,” Abang Johari said.

Earlier Petros chairman Tan Sri Hamid Bugo said the company’s vision was to be a major player in exploiting and utilising energy resources.

“We see our role eventually as an active, fully integrated oil and gas operator across the value chain – upstream, midstream as well as downstream.

“We also see Petros as the catalyst for fuelling Sarawak’s growth by developing and utilising the state’s oil and gas resources domestically.”

Hamid also said Petros planned to collaborate with other companies in the industry and several proposals were in the pipeline.

“I hope players in the oil and gas industry will not regard Petros as a disruptive competitor but as a facilitator and collaborator, a government-linked entity that sees value in working together.”

Hamid added that Saau would join Petros in April while all essential staff would be recruited by the end of the year.

Source: https://www.thestar.com.my/metro/metro-news/2018/03/08/greater-say-over-natural-resource-petros-will-be-a-major-player-in-the-development-of-sarawaks-oil-a/

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