KUCHING, Oct 31 – Sarawak government-owned oil and gas company, Petroleum Sarawak Bhd (Petros), is allocating about RM40 billion over the next five years for its capital expenditure (capex), its chairman Tan Sri Hamid Bugo said.
He added that the company registered a total revenue of RM4 billion last year, which is projected to grow over the next few years.
“Petros is now participating in 19 production-sharing contracts in collaboration with major oil players from several countries. Predictably this will also grow,” he said.
Since its inception on Aug 7, 2017, Petros has grown as an integrated player, actively participating throughout the oil and gas value chain, streamlining efforts to power social economic development in Sarawak.
Hamid said under their gas road map, Petros is developing four strategic hubs in Kuching, Miri, Bintulu and Similaju, with a potential investment of RM100 billion in the next few years.
