KOTA KINABALU: SMJ Energy Sdn Bhd (SMJE) enters 2025 and the Year of the Wood Snake strong with the successful sale of its first crude oil cargo for the year, estimated to generate a sales revenue of RM100 million.
Announcing this in a statement today, the company said this sale marks the eighth crude oil lifting under SMJE’s entitlement from its 50% participating interest in the Samarang Production Sharing Contract (PSC).
Since its establishment, SMJE has focused on developing its position as a key player in the oil and gas industry, striving for sustainable growth while contributing to Sabah’s economic development.
“With cumulative crude and gas sales revenue of over RM1.5 billion to date, SMJE’s crude sales serve domestic and international markets while its gas sales exclusively supply vital customers in Kota Kinabalu Industrial Park (KKIP) and Labuan.
“SMJE’s strategic approach centers on investing in profitable, cash-generating oil and gas assets with minimal exploration risks. By working with reputable operators who maintain strong Environmental, Social and Governance (ESG) practices, the company remains committed to responsible resource development and economic progress for Sabah,” said SMJE.
This latest milestone reflects SMJE’s robust growth trajectory and its ongoing efforts to explore new opportunities in the oil and gas sector, further solidifying its position as a critical player in the industry.
