KOTA KINABALU: Sabah wants its oil and gas industry to generate greater economic value and long-term benefits beyond exploration and production, said Chief Minister Datuk Seri Hajiji Noor.
"We want the growth of this industry to generate wider economic spillover benefits for Sabah," he said at the signing of land lease agreements between the Sabah Economic Development Corporation (SEDCO) and Petronas for the Sabah Oil and Gas Terminal (SOGT) and Sabah-Sarawak Gas Pipeline (SSGP) projects here.
His speech was delivered by Deputy Chief Minister and State Industrial Development, Entrepreneurship and Transport Minister Datuk Ewon Benedick.
Hajiji said recent exploration activities and new resource discoveries offered greater prospects for the industry. He added that the two facilities could support wider economic and industrial development.
Their strategic locations could create opportunities along the Kimanis-Sipitang corridor, which has the potential to become a major growth area.
Hajiji also said Sabah wanted greater local participation in the oil and gas value chain. This would enable state-based companies to move beyond support services and develop the technical, management, technological and financial capabilities needed to secure higher-value opportunities.
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