Hornbill Unleashed

April 17, 2018

PKR wants details of Sarawak’s buy in Shell stake

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

Sarawak PKR has expressed its support for the state government’s acquisition of Shell’s 15% equity stake in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga), but wants Chief Minister Abang Johari Openg to reveal the details of the deal.

“How much was paid to acquire the 15% equity in MLNG Tiga, and what is the projected revenue generation capacity?” the party’s vice-chairman See Chee How asked.

He also asked whether the acquisition was a concession by Petronas to own the Gorek, Larak and Bakong fields at offshore Sarawak, thereby keeping Sarawak out of the SK408 Production Sharing Contract.

See, who is the state assemblyman for Batu Lintang, said it would be a poor deal for Sarawak if the acquisition was indeed a concession or trade-off for its sovereign rights and privileges to the gas field.

“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.”

In a statement, he also urged Abang Johari to explain why the acquisition of the additional equity holdings was not with regard to the equity holdings in MLNG Dua and Petronas LNG9 Sdn Bhd.

Petronas LNG9 owns and operates the MLNG Train 9, which was a strategic plan of the previous administration under the former chief minister, the late Adenan Satem.

“By looking at the capacities and potential 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.

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

He added that Abang Johari must make a strong representation to the federal government on Sarawak’s rights in territorial sovereignty and resources.

Source : The FMT Online




  1. AJ only shooting hot air … NATO

    Comment by tigerykarother — April 19, 2018 @ 4:09 PM | Reply

  2. No details no voting , is that what you meant?

    Comment by Salim — April 17, 2018 @ 12:25 PM | Reply

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