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Malaysia’s eastern Sabah state to gain control of its gas resources

Malaysia’s eastern Sabah state to gain control of its gas resources
Sabah contains around 12% of country's gas reserves and 25% of its oil reserves

By Riyaz ul Khaliq

ISTANBUL (AA) – Malaysia’s Prime Minister Anwar Ibrahim announced on Wednesday that the country’s eastern state of Sabah will get control of its natural gas resources.

Anwar said his cabinet has agreed to transfer control of gas resources from Putrajaya, Malaysia’s governance seat located south of the capital Kuala Lumpur, to the Sabah government through the state-owned oil company Petronas.

Sabah contains around 12% and 25% of its gas and oil reserves, respectively.

“This has already been done in Sarawak (state), and now it will be transferred to the Sabah government,” Anwar told a news conference after chairing a meeting of his 27-member cabinet.

“While there will be ongoing negotiations (between Petronas and Sabah government), the control will ultimately be given to the state government,” Anwar said.

The implementation of the transfer of control will start after “royal assent is given,” the prime minister said, according to Free Malaysia Today news website.

The gas and oil resources of the Southeast Asian nation are controlled by Petroliam Nasional Berhad, commonly known as Petronas.

Petronas was established in 1974 and is entrusted with developing and adding value to these energy resources.​​​​​​​

source: News Feed
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