Kota Kinabalu: SMJ Energy Sdn Bhd (SMJE) has recorded a crude oil cargo sale valued at approximately RM100 million.
The state-owned company said this marks its eighth crude oil sale under its 50 per cent participating interest in the Samarang Production Sharing Contract (PSC).
AdvertisementSince its establishment, SMJE has focused on positioning itself as a key player in the oil and gas industry, aiming for sustainable growth while contributing to Sabah’s economic development.
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“Meanwhile, its gas sales exclusively supply vital customers in the Kota Kinabalu Industrial Park (KKIP) and Labuan,” the company said in a statement.
Advertisement“SMJE’s strategic approach focuses on investing in profitable, cash-generating oil and gas assets with minimal exploration risks.
“By collaborating with reputable operators who adhere to strong Environmental, Social, and Governance (ESG) practices, the company remains committed to responsible resource development and driving economic progress for Sabah,” it added.