00:00Sabah's oil and gas returns have surged in recent years, with more revenue streams on the way thanks to new asset acquisitions in the pipeline.
00:10In a recent exclusive interview with FMT, SMJ Energy Center and Berhad CEO Dionysia Kibat said,
00:17plans to expand the company's portfolio further will hopefully be concluded by next year.
00:23We are just, how to say, setahun jagung lah, masih muda kan? So we still have a lot of things to acquire.
00:33As we speak now, we are also looking at a few more acquisitions in terms of upstream and also downstream.
00:41So we hope that we can finalise it within the next few months, either before year end or maybe early next year.
00:51According to Dionysia, other ventures and diversification strategies will be guided by risk assessment to ensure sustainable growth.
01:00We have to make sure that you are strong enough with the right capability, right capacity, then we might be looking at.
01:08Later you will be too much things, then you cannot focus, then it's not good for any company.
01:15Sabah's landmark commercial collaboration agreement with Petronas, signed in December 2021 under the leadership of Chief Minister Haji Ji Noor,
01:24enabled the state to have greater say, greater participation and greater revenue sharing in its local oil and gas industry.
01:32The state government subsequently launched SMJ Energy to realise the new opportunities enabled by the CCA, including equity in oil and gas assets.
01:43To date, SMJ Energy has paid RM101 million in SST.
01:49The state revenue has tremendously increased after the signing of the CCA.
01:55Previously, it was reported around $4 billion per year or $3 billion, something like that.
02:01But after that, it becomes $6 billion or $7 billion the highest, if I'm mistaken.
02:06So you can see that how important that the oil and gas industry is for the state.
02:14So with all this income increase, in fact, with the increase in revenue, then there is more budget for the state to deploy for the infrastructure,
02:25for the benefit of Sabahan, let's say whatever they want to do in order to develop the livelihood of the Sabahan.
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