KOTA KINABALU – The Sabah state government is acquiring a 30% stake in two newly discovered oil and gas fields on its east coast, alongside finalising a 40% equity share in a major floating liquefied natural gas (FLNG) facility under a strategic collaboration with Petronas. Chief Minister Datul Seri Hajiji Noor announced that the partnership aims to deepen the state’s commercial involvement in energy exploration, boost local economic integration, and drive state revenue toward a projected RM 8 billion target. Sabah will also be establishing new industrial parks in Kota Belud and a dedicated blue economy hub in Kudat to support downstream logistics, manufacturing, and local service opportunities.
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(Source: Malay Mail)
