Thai, Japanese investors keen on Sarawak petrochemical production

Thai and Japanese investors are showing strong interest in investing up to RM1 billion in petrochemical production in Sarawak, according to state premier Abang Johari Openg. Premier Johari highlighted Sarawak's strength in low-carbon energy and oil and gas revenues, as reported by the Borneo Post.

The Adong Kechil West oil well near Marudi has already started producing 800 barrels a day, which amounts to RM8 million per month or RM96 million annually. By the middle of next year, Petros plans to develop an additional well to supply gas to the power station in Miri. Moreover, an exploratory well is being drilled at Kuala Baram, which has shown promising potential for gas production, as announced by Premier Johari.

Sarawak's significant advantage lies in its renewable energy resources, particularly hydropower, which provides a strong foundation for attracting investors in new industries that require substantial amounts of clean energy at competitive prices. During the celebration of the Yang Dipertuan Negeri's birthday, Premier Johari reported that Sarawak had recorded RM11.2 billion in approved investments during the first half of the year, indicating sustained investor confidence in the state's economic potential.