Time for Petros to lay out its plans

December 4, 2018

Yeah, since Sabah wants to emulate them.

Dateline 2018-10-11, FMT:

It has been over one and a half years since the announcement to set up Petroleum Sarawak Bhd (Petros) was made. Until today, no specifics have been released by the Sarawak government or its Chief Minister Abang Johari Openg.

As days go by, more questions emerge such as the amount of initial paid-up and working capital the state government will inject to get Petros operational, and who will make up the senior management aside from Saau Kakok who has been announced as its CEO.

Saau is a former special projects vice-president of US-based independent oil company, Hess Corporation.

Abang Johari, when announcing the setting up of Petros in 2017, said: “Petros is expected to be in operation within six months because we must get our side ready for us to get involved in upstream oil and gas (O&G) activities.”


O&G players see impact from new industry updates

July 1, 2018

Dateline 2018-05-17, Borneo Post Online:

With just two more months before Sarawak state-owned Sarawak Petroleum Bhd (Petros) assumes full regulatory authority over the upstream and downstream aspects of the state’s oil and gas (O&G) industry, existing industry players are wondering if their business activities will be impacted.

During an industry engagement session on the implementation of the Oil Mining Ordinance (OMO) and Distribution of Gas Ordinance (DGO) in Sarawak held yesterday, Petros’ chief executive office Saau Kakok explained that most, if not all, entities undertaking activities in the O&G industry will need to apply or reapply for their respective licenses and leases.

Under the amended OMO which will come into effect on July 1, players will be required to apply for their licenses and leases to the State Minerals and Management Authority (SMMA) through Petros.

Similarly, under the newly passed GDO in 2016 which will be gazette on July 1, players will be required to reapply for their licenses as licenses granted under the gas supply act 1993 is not applicable in the state. This includes any licenses issued by the Secretary General of Ministry of Domestic Trade, Co-operatives and Consumerism under the Petroleum Regulations 1974 or the Control of Supplies Act 1961.