Petronas invested RM25b in Sarawak in 2024 - deputy premier

Petroliam Nasional Bhd (Petronas) invested RM25 billion in Sarawak last year, said Sarawak Deputy Premier Awang Tengah Ali Hasan.

Awang Tengah, who is also the Sarawak Minister for International Trade, Industry, and Investment, said these investments include nine first hydrocarbon discoveries and two major production milestones - the Kasawari field at Block SK316 and the Jerun field at Block SK408.

“Ongoing offshore development and exploration projects are in progress to ensure future energy security.

“Petronas is intensifying frontier exploration through data enrichment and strategic partnerships for seismic processing, reinforcing Sarawak’s role in Malaysia’s energy sector, supporting long-term energy security and economic growth,” he said during his ministry’s winding-up session at the state legislative assembly sitting in Kuching today.

Meanwhile, Awang Tengah said Sarawak recognises natural gas as a vital transition fuel in the global journey towards net-zero emissions and the state is committed to its responsible development.

He said the Sarawak Gas Roadmap leverages Sarawak’s abundant natural gas resources, which constitute over 60 percent of Malaysia’s reserves, to drive industrialisation, improve energy security, and attract sustainable investment.

“As part of this initiative, a RM100 million city gas trunkline in Bintulu will expand clean and affordable energy access for homes and businesses. The project is going to be implemented soon.

“Meanwhile, the RM1 billion Samalaju Pipeline will transport 300 million standard cubic feet per day of gas from Bintulu to Samalaju Industrial Park. The installation of this gas pipeline is expected to be completed by the end of 2025,” he said.

- Bernama

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