Haji Hajiji Haji Noor
KOTA KINABALU: Sabah has formalised the acquisition of a 25 per cent equity stake in PETRONAS PFLNG 3 Sdn Bhd — a move that further strengthens the collaboration between the national petroleum company and the state, said Chief Minister Datuk Seri Haji Hajiji Haji Noor.
“Not only will this further strengthen the synergy between PETRONAS and Sabah, but it will also unlock potential for similar collaborations in the future,” he said.
Through SMJ Energy Sdn Bhd (SMJ Energy), the state entered into definitive agreements with PETRONAS LNG Sdn Bhd, a subsidiary of PETRONAS, to formalise the acquisition of the 25 per cent equity interest in PETRONAS PFLNG 3 Sdn Bhd, also known as ZLNG, here today.
This follows the signing of the Heads of Agreement for the proposed acquisition, which was witnessed by Hajiji and PETRONAS President and Group CEO Tan Sri Tengku Muhammad Taufik in Kuala Lumpur on July 17 this year.
PETRONAS PFLNG 3 is developing a USD3.1 billion nearshore floating liquefied natural gas (FLNG) facility at the Sipitang Oil and Gas Industrial Park (SOGIP).
Expected to commence operations in the second half of 2027, PFLNG 3 is designed with a production capacity of two million tonnes per annum (2.0 MTPA).
This strategic investment adds to SMJ Energy’s growing and diversified portfolio. The company currently holds a 50 per cent participating interest in the Samarang Production Sharing Contract, a 10 per cent equity interest in PETRONAS LNG 9 Sdn Bhd, a 25 per cent equity interest in PETRONAS Chemicals Fertiliser Sabah Sdn Bhd (SAMUR petrochemical plant) and full ownership of Sabah International Petroleum Sdn Bhd (SIP), which operates both FPSO and FSO assets.
SMJ Energy also holds free-carry and back-in rights in exploration blocks SB409 (20%), SB403 (20%), SB306A (15%) and SB306B (15%).
