KOTA KINABALU: SMJ Energy Sdn Bhd (SMJ Energy) advises that it currently has no equity stake in the SB403 Production Sharing Contract (PSC) and is not a party to the agreement.
However, SMJ Energy has a ‘back-in right’ that allows it to decide whether to join
as a partner in the future in the event of exploration success taking also into account commercial, technical, environmental and other factors.
SMJ Energy acts as a prudent financial investor and works with reputable oil and
gas companies with proven ESG (Environmental, Social & Governance) track records, it said in a statement yesterday
