KOTA KINABALU: SMJ Energy has recorded an estimated RM94 million in revenue from its tenth crude oil sale under the Samarang Production Sharing Contract (PSC).
The latest sale brings the company’s total cumulative revenue from the Samarang PSC to around RM1.9 billion since its 50 per cent acquisition in May 2023.
Of the total, approximately RM397 million was generated this year alone through its crude oil and gas sales.
window.googletag = window.googletag || {cmd: []};googletag.cmd.push(function() {googletag.defineSlot('/22826383987/dailyexpress_inline', [1, 1], 'gpt-passback').addService(googletag.pubads());googletag.enableServices();googletag.display('gpt-passback');});Located offshore Sabah, the Samarang PSC also supplies gas to the Kota Kinabalu Industrial Park and three nearby power plants.
SMJ Energy said its continued operations align with the State Government’s goal of promoting economic growth and a sustainable energy future.