Sabah state firm to acquire 25% equity in PETRONAS Chemicals' ammonia and urea plant

From left: PETRONAS Chemicals head of strategic planning and ventures Yaacob Salim, managing director and CEO Mohd Yusri Mohamed Yusof, PETRONAS Group SVP of project delivery and technology Datuk Bacho Pilong; Sabah State Local Government and Housing Minister and Finance Minister ll Datuk Seri Panglima Haji Masidi Manjun, Sabah State Secretary Datuk Seri Panglima Sr Haji Safar Untong, and SMJ CEO Dionysia Aloysius Kibat at the signing ceremony

KUALA LUMPUR: Sabah state-owned SMJ Sdn Bhd has acquired a 25% equity interest in PETRONAS Chemicals Fertiliser Sabah Sdn Bhd to give the former greater revenue sharing in the oil and gas industry in the state.

This comes following the recent acquisition of selected downstream gas pipeline assets and supply of natural gas contracts by Sabah Energy Corporation Sdn Bhd (SEC), which makes SEC the largest domestic supplier and transporter of natural gas in Sabah.