Sabah secures further stake in offshore exploration blocks


KOTA KINABALU: The Sabah Government, through its wholly owned entity SMJ Energy Sdn Bhd, continues its expansion in the oil and gas sector with the signing of two key agreements for Exploration Blocks SB306A and SB306B, located offshore Sabah’s east coast.

With these agreements, SMJ Energy has secured a 15% participating right in both blocks, comprising a 7.5% free carry right from INPEX and a 7.5% back-in right from PETRONAS Carigali Sdn Bhd (PCSB).

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