KUCHING, 31 OCT – Petros, the oil and gas company owned by the Sarawak state government, has allocated approximately RM40 billion for capital expenditure for the next five years, said its chairman, Tan Sri Hamid Bugo.
He said the company recorded a revenue of RM4 billion last year and the figure is projected to increase in the next few years.
“Petros is currently participating in 19 production sharing contracts in collaboration with major oil players from several countries and this is also expected to grow,” he said when speaking at Petros’ 7th anniversary dinner in Kuching, yesterday.
Also present was the Premier of Sarawak, Tan Sri Abang Johari Tun Openg.
Hamid said since its launch on 7 August 2017, Petros has grown as an integrated player, actively participating in the entire oil and gas value chain, coordinating efforts to empower social economic development in Sarawak.
He said under its gas roadmap, Petros is developing four strategic hubs in Kuching, Miri, Bintulu and Similaju, with a potential investment of RM100 billion over the next few years, and together with Petronas, become the sole distributor of liquefied petroleum gas in Sarawak. – Named
