Hornbill Unleashed

April 16, 2018

PKR S’wak hails state’s acquisition of 15 pct stake in MLNG Tiga, urges govt to reveal details

Filed under: Politics — Hornbill Unleashed @ 8:03 AM

Parti Keadilan Rakyat (PKR) Sarawak today hailed and expressed support for the State’s acquisition of Shell’s 15 per cent equity stake in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) but urged Chief Minister Datuk Patinggi Abang Johari Tun Openg and the Sarawak State Government to reveal the details of this acquisition.

“How much was paid to acquire the 15 per cent equity in MLNG Tiga? And what is the projected revenue generation capacity of MLNG Tiga?

“A question of equal significance is whether this acquisition of additional stake in MLNG Tiga is a concession by Petronas for Petronas to own the Gorek, Larak and Bakong fields at offshore Sarawak, keeping Sarawak out of the SK408 Production Sharing Contract?” asked PKR Sarawak vice chairman and Batu Lintang assemblyman See Chee How.

According to See, it cannot be co-incidental that Sarawak’s acquisition of the 15 per cent equity stake in MLNG Tiga was announced immediately after Sapura Energy revealed that it had taken the final investment decision (FID) to develop Phase 1 of the SK408 Production Sharing Contract following field development plan approval from Petronas and the signing of key terms to a gas sales agreement.

“It points to the fact that Sarawak is once again being bypassed in the opportunity to participate in the upstream oil and gas industrial development activities, despite the fact that SK408 block gas field is situated at the off-shore of Sarawak.

“If this acquisition of the 15 per cent equity stake in MLNG Tiga is a concession or a trade-off, for surrendering our sovereign rights and privileges to the gas field, it is a poor and derisive deal for Sarawak.”

In its public announcement, Sapura Energy stated that it is taking part in the SK408 project through its subsidiary Sapura Exploration and Production (Sapura E&P), which is partnered by Petronas Carigali and Sarawak Shell. While Sapura holds a stake of 40 per cent in SK408 block, Petronas Carigali and Sarawak Shell have stakes of 30 per cent each.

“The fact that the FID follows the Field Development Plan approval from Petronas clearly affirms and sustains our common belief that Petronas has full authority and control over the oil and gas fields which are situated within the territorial boundary of Sarawak, and the Sarawak state government is unable to stop Petronas from determining and signing any production sharing contracts with whosoever for the exploration and development of our oil and gas fields.

“We can express our opinions on the legality and confines of our Federal Constitution and the national and state laws, but the fact remains that unless the provisions in the Territorial Sea Act 2012 and the Petroleum Development Act 1974 are declared unconstitutional and or null and void, and the Tripartite Agreement signed between the Sarawak and Federal Government with Petronas is set aside, we are not able to protect our territorial integrity and assert our full rights and autonomy over the operation, management and development of our resources including oil and gas deposited within our territorial boundary.”

Further, See said the Chief Minister and the State Government must explain why the acquisition of additional equity holdings was not with regards to the equity holdings in MLNG Dua and Petronas LNG9 Sdn Bhd which owns and operates the MLNG Train 9 which was the strategic plan and idea of the previous administration under the late Chief Minister Pehin Sri Adenan Satem?

“By looking at the capacities and potentials of MLNG Dua and Petronas LNG9 Sdn Bhd, it is clear that we would be able to derive better financial returns by investing in them rather than MLNG Tiga.”

See said PKR Sarawak, however, welcomed the acquisition of additional equity holdings in MLNG Tiga, but the State government must assure all Sarawakians that it is still pursuing the acquisition of additional equity holdings in MLNG Dua and Petronas LNG9 Sdn Bhd, and more importantly, our deserved share in the SK408 block gas field.

“The CM and the State Government must make a strong representation to the federal government that Sarawak’s inherent rights in territorial sovereignty and all our resources must be fully respected.

“To seek the restoration of Sarawak’s autonomy and rights under the Malaysia Agreement 1963 should not remain a political slogan, but our full and firm commitment that Sarawak’s territorial integrity must be fully restored with the amendment to the Territorial Sea Act 2012 and that the federal government must direct Petronas to compensate Sarawak for its exploitation and violation of Sarawak’s rights to our oil and gas and other resources within our territory,” he concluded.


Source : The Borneo Post Online


 

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3 Comments »

  1. Cool Nun is a retarded pig who lives on sheet … curse him to die from heart-attack before GE

    Comment by tigerykarother — April 16, 2018 @ 9:00 PM | Reply

  2. The fuking scumbag secretary general of Umno Baru, Tengku Adnan, should be the first Malaysian to be charged under the Anti Fake Law. I challenged the IGP to act without fear or favour. Multi racial and religious Malaysia need to be protected from scumbag bigot like Tengku Adnan and Najib.

    Comment by Awaken Dayak — April 16, 2018 @ 5:45 PM | Reply

  3. Beware DAP’s ‘Christian evangelists’, Ku Nan tells civil servants

    How 9% of Christians can threaten 61% of Muslims in a population of 33 million is baffling to me. The majority of the DAP leadership and members are not even Christian.

    And do you think that Pakatan Harapan leader Dr Mahathir Mohamad will allow the DAP to propagate Christianity to the Muslims contrary to the constitution and state laws?

    Comment by SBY — April 16, 2018 @ 9:15 AM | Reply


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