Petronas has made RM15.6bil cash payments to Sabah since 1976


  • Nation
  • Wednesday, 04 Dec 2019

KUALA LUMPUR: Sabah has received about RM15.6bil in cash payments from Petroliam Nasional Bhd (Petronas) for petroleum and gas extracted in the state from 1976 up till Dec 31 last year, says Deputy Economic Affairs Minister Dr Mohd Radzi Md Jidin.

The figure is based on the 5% payment of gross petroleum production which is channelled by Petronas to the Sabah state government in February and August each year, he said.

Radzi added that detailed information about the amount of gross petroleum production is included along with the cash payment report to the state's Finance Ministry.

“All petroleum production in Malaysia is done through the production sharing contracts (PSCs) with investors.

“Based on the PSC agreement, the overall gross income for each PSC is subject to a non-disclosure clause stating that it should not be publicly revealed, ” he told the Dewan Rakyat on Wednesday (Dec 4).

Radzi was responding to a question by Jonathan Yasin (PH-Ranau), who asked the Economic Affairs Ministry to state the overall gross income obtained by Petronas since it began operations in Sabah in 1976.

Datuk Jeffrey Kitingan (STAR-Keningau) subsequently asked Radzi to state the figures for Sabah’s petrol output in terms of barrels per day.

In response, Radzi said an average of 358,000 barrels a day was produced in 2018, followed by 424,000 barrels per day in 2017, and 338,00 barrels per day in 2016.

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