KUCHING: Petroleum Sarawak Berhad (PETROS) recorded a revenue of RM1.2 billion last year.
In revealing this, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said that this was a significant feat by a company that is only five years old.
He pointed out that PETROS is on a journey of rapid growth which they have funded with their own prudent equity and securing their own financing.
“When I took over the leadership of the state government in 2017, PETROS was the first entity established to fulfill the aspirations of the people of Sarawak so they could enjoy the wealth of the state’s natural resources.
“I am pleased to say that PETROS is among the ranks of the billion-ringgit companies with a robust financial performance and a Triple-A RAM rating.
“We all should be proud of PETROS and its achievements thus far as well as for its future bold targets as we celebrate its 5th anniversary,” he said.
He said this during PETROS’ five years anniversary celebration dinner at Borneo Convention Centre Kuching (BCCK) last night.
Abang Johari said Sarawak needs to exploit the potential of its resources in an aggressive but responsible manner.
He said this is because the state needs to expand its economy and shake off the tag of a ‘rich but poor state’.
“To simply put it, our oil and gas resources have not been developed in such a manner as to give enough benefits to its people.
“Towards this end, PETROS has been entrusted with the task of furthering Sarawak’s cause including negotiating the details of the state commercial position with Petroliam Nasional Berhad (PETRONAS) and this has culminated in the signing of the Commercial Settlement Agreement (CSA) between PETRONAS and Petronas in December 2020,” he said.
Abang Johari congratulated the management and staff of PETROS on their hard work in ensuring that it is the torch bearer for Sarawak in the oil and gas industry in the country.
On that note, he said Sarawak needs a stable and strong government to continue existing efforts to uplift the state’s economy until 2030 and beyond.
“As the head of the Gabungan Parti Sarawak (GPS) government, my colleagues and I strive to ensure that Sarawak is at the forefront of the country and the region.
“Let’s pray that our Sarawak-owned oil and gas company will lead the state to a glorious economic era by 2030, inshaAllah (God willing),” he added.
PETROS was incorporated back in 2017 to become a flagship of Sarawak’s meaningful participation in the orderly exploitation of the oil and gas resources that the state is endowed with while at the same time safeguarding the interests of Sarawak and its resources.
