Kota Kinabalu: Sabah has continued its long-term collaboration with Shell International Eastern Trading Company (Sietco) by extending its ongoing sales and purchase agreement (SPA).
The SPA extension is for Sabah's crude oil cargo at the Labuan Crude Oil Terminal from its 50 per cent interest in the Samarang Production Sharing Contract for up to three years from Jun 2024.
The long-term collaboration was marked by a signing the SPA extension between Sabah’s wholly-owned SMJ Energy Sdn Bhd (SMJE) and Sietco in a ceremony held at the Sabah International Convention Centre, here, Monday.
SMJE Vice President (Business Development) Faisal Abdul Rahman and Sietco Business Manager Terence Yuen signed the SPA Extension document.
SPONSORED CONTENT Electrifying windows of opportunity in Sabah - The right policies, collaborations, and strategies can turn emerging opportunities into victories for all parties in Sabah. CHIEF Minister Datuk Seri Panglima Hajiji Noor’s 2021 Hala Tuju Sabah Maju Jaya Plan and the Sabah Economic Development and Investment Authority (SEDIA) have laid out a road map to an exciting future for all Sabahans, with a target of increasing Sabah’s income levels and GDP per capita from about RM 23,000 to about RM 40,000 by 2030. Read more Sabah Finance Minister Datuk Seri Masidi Manjun, who is also the Chairman of SMJE, witnessed the signing.
Also present were representatives from SMJE, Sietco and Shell Malaysia.
* Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access.
* Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss.