Sabah targets wider economic benefits from oil and gas
KOTA KINABALU: Sabah wants its oil and gas industry to generate greater economic value and long-term benefits beyond exploration and production, said Chief Minister Datuk Seri Hajiji Noor.
Chief Minister Datuk Seri Hajiji Noor announced that Sabah aims to expand the economic impact of its oil and gas sector beyond mere exploration and production. During the signing of agreements for the Sabah Oil and Gas Terminal (SOGT) and Sabah-Sarawak Gas Pipeline (SSGP) projects, he emphasized the potential for wider economic benefits.
Deputy Chief Minister and State Industrial Development Minister Datuk Ewon Benedick also spoke, highlighting recent discoveries as promising for the industry's growth. The strategic positioning of SOGT and SSGP along the Kimanis-Sipitang corridor is seen as a way to boost economic development in the region. Hajiji stressed Sabah's interest in increasing local involvement in the oil and gas value chain.
This push seeks to empower state-owned companies to progress from merely providing support services to acquiring higher-value roles, thereby enhancing their technical, managerial, technological, and financial capabilities.
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