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KOTA KINABALU: Sabah will remain central to Malaysia’s long-term energy security, with Petronas planning RM50–60 billion in annual upstream investments to sustain production at two million barrels of oil equivalent daily.

Petronas' MPM Senior Vice President Datuk Ir Bacho Pilong said the investments are crucial for stable energy supply and economic growth, amid rising global demand and ongoing geopolitical and supply chain challenges.

He highlighted the 2021 Commercial Collaboration Agreement with the Sabah Government as a key driver of stronger cooperation across upstream, gas, LNG and downstream sectors.

Recent developments, including the Permata Cluster PSC and Mutiara Cluster agreement, reflect continued expansion of Sabah’s oil and gas ecosystem.

Petronas is also allocating about RM500 million annually until 2030 to develop frontier basins, with Sabah holding most of the potential.

Bacho added that regional collaboration, including with Thailand, Vietnam and Brunei, will be key to unlocking further resources and strengthening Sabah’s position as a regional energy hub.