By Olivia Miwil - October 21, 2024 @ 2:17pm
Sabah Finance Minister Datuk Seri Masidi Manjun, who is also SMJ Energy Sdn Bhd chairman, said that he hopes the trend will continue, and more Sabah people will seize the opportunities in the oil and gas industry. — PIC COURTESY OF SABAH INFORMATION DEPT
KOTA KINABALU: Sabah companies have achieved significant milestones by securing major contracts in the oil and gas services and equipment (OGSE) sector.
These include engineering, procurement, construction and commissioning, maintenance, turnaround maintenance, integrated well services and marine vessel supply.
The contracts are expected to create about 1,000 jobs in Sabah.
"It is indeed a remarkable moment for Sabah because we have proven that our companies can compete in the OGSE big league.
"I hope this trend continues, and more Sabah people will seize the opportunities in the oil and gas industry," said Sabah Finance Minister Datuk Seri Masidi Manjun, who is also SMJ Energy Sdn Bhd chairman, in a statement.
SMJ Energy executive director for OGSE and corporate Terry Biusing said: "Sabah companies are now securing a larger share of OGSE contracts in Sabah.
"Revenue projections for 2024 are expected to exceed RM2 billion, with over 60 companies generating revenues of between RM1 million and RM300 million as of August."
The Sabah government has played a crucial role in this success, forming strategic partnerships with technical service providers while ensuring job creation and maintaining safety, quality and efficiency.
Since the signing of the Commercial Collaboration Agreement with Petronas in December 2021, local OGSE contract awards had grown from RM341 million to RM780 million, with the number of contractors increasing from 263 to 475 last year.
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