Abang Jo on Petros’ crucial role in Sarawak’s energy security measures

KUCHING: Petroleum Sarawak Berhad (Petros) continues to play a crucial role in strengthening Sarawak’s energy security and stimulate industrial growth with the development of Sarawak’s Gas Road Map.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said that Petros, since its founding seven years ago, has been instrumental in creating new industrial investment opportunities across the state and establishing a foundation for Sarawak’s long-term economic sustainability.

“By managing our resources through Petros, we can take charge of our future, ensuring that the benefits we receive from Sarawak’s resources reach the people of Sarawak directly.

“This activity is within the ambit of Sarawak’s law. After the oil mining ordinance, gas distribution is under the jurisdiction of Sarawak,” he said.

Abang Johari made these remarks during Petros’ 7th anniversary dinner at the Borneo Convention Centre Kuching (BCCK) last night (Oct 30).

The Premier added that under the Gas Road Map, Petros is enhancing statewide gas accessibility via four strategic hubs in Miri, Bintulu, Samalaju and Kuching.

“These strategic gas hubs will serve as central distribution points within a hub-and-spoke delivery model to all parts of Sarawak, including our inland areas, enhancing access to affordable gas for our people,” he said.

He also lauded Petros’ industrial capability initiative aimed at preparing young Sarawakians with industry-relevant skills through initiatives like ‘Train and Place’.

This programme, he said, offers entry-level training in areas such as basic scaffolding, mechanical fitting, painting, blasting, and welding, followed by job placements with industry partners, ensuring a seamless transition from training to employment.

“To make this opportunity accessible, Petros shares the training costs with potential industry employers, providing a minimum of 12 months employment for successful participants,” he added.

Meanwhile, Petros chairman Tan Sri Datuk Amar Hamid Bugo said Petros’ workforce has grown to 380 employees, along with 17 interns, and the company participates in 19 production-sharing contracts off Sarawak’s coast with oil majors from several countries.

“Under the Gas Road Map, the four strategic hubs are expected to involve an estimated RM100 billion investments over the next few years,” he said.

According to Hamid, Petros achieved a total revenue of RM4 billion and invested RM2 billion in capital expenditures in 2023.

He said over the next four to five years, Petros anticipates additional investments totalling around RM40 billion.

“We have also spent RM4.7 billion in 2023 in our CSR (corporate social responsibility), and about the same amount in 2024, and these are largely for education and health,” he added.