Sabah earns RM100mil after sixth sale of crude oil cargo from Samarang PSC

KOTA KINABALU: Sabah has raked in revenue in excess of RM100mil after selling its sixth crude oil cargo from the Labuan Crude Oil Terminal (LCOT).

SMJ Energy Sdn Bhd (SMJE) said the crude oil cargo of about 300,000 barrels represented SMJE’s entitlement from its 50% participating interest in the Samarang Production Sharing Contract (PSC), which was bought in May 2023.