Sabah has taken a significant step in strengthening its energy sector through a new collaboration under the North Sabah Enhanced Oil Recovery Production Sharing Contract (EOR PSC).
Deputy Chief Minister II cum Finance Minister Datuk Seri Masidi Manjun said the partnership marks the result of a steady and purposeful journey that began about two years ago.
He noted that the process started with discussions, followed by the signing of the Heads of Agreement in November 2025, the Farm Out Agreement in February, and, most recently, the Joint Operating Agreement on March 31, 2026.
The collaboration involves Hibiscus Petroleum Berhad as the operator, with Petronas Carigali and SMJ Energy as non-operating partners.
Masidi said the partnership builds on existing cooperation, including earlier work with Petronas Carigali under the Samarang PSC since April 2023, reflecting a growing track record of trust and shared objectives.
“This partnership did not happen overnight. The journey to this point has been steady and purposeful,” he said during the North Sabah EOR PSC New Partnership Evening, recently, at a hotel here.
He added that the collaboration presents an opportunity to strengthen Sabah’s position in the energy sector while creating meaningful opportunities and delivering real benefits to the people.
“Let us move forward not just as partners but as one team,” he said, stressing that mutual respect, openness, and strong working relationships will be key to the partnership’s long-term success.
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