To date, SMJSB has successfully acquired the following profitable and producing oil and gas businesses and assets to create a balanced portfolio as a financial investor:
• 50pc participating interest in Samarang Production Sharing Contract (PSC) with Petronas Carigali Sdn Bhd as the operator. The PSC comprises seven existing oil and gas-producing fields with a production capacity of 36,000 barrels of oil and gas equivalent per day. SMJ has sold its first crude oil cargo in June 2023;
• Back-in option for up to 20pc participating interests in Block SB409 PSC upon completion of work commitment or commercial discovery, whichever is earlier; and
• 25pc equity interest in an integrated ammonia and urea production complex located in Sipitang Oil and Gas Industrial Park in Sabah (Samur).
Samur is the largest single-train ammonia and urea plant in Southeast Asia and the third largest urea plant in the Asia Pacific with a production capacity of 2,100 metric tonnes per day (mtpd) of ammonia, 3,500 mtpd of urea synth and 3,850 mtpd of urea granules.
SMJSB will acquire Sabah International Petroleum Sdn Bhd (SIP), which holds a 10pc ownership stake in Petronas LNG9 Sdn Bhd that operates a LNG plant within the Bintulu LNG Complex and use the Sukuk proceeds to part refinance its SIP’s existing borrowings.
SMJSB, as a financial investor, plans to continue to adopt a prudent and conservative approach in growing its business through acquiring profitable and producing upstream and midstream oil and gas assets.
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