Consider views on managing petroleum assets

Consider views on managing petroleum assets
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MIRI: Sarawak may be new in the administration of petroleum resources; hence it is important for the state government to take in ideas and suggestions on policies, programmes and investment for consideration for it to manage the resources properly.

President of Sarawak Bumiputra Chamber of Entrepreneurs, Datu Abang Helmi Ikhwan, said the ideas and suggestions made during the course of the deliberation at the Sarawak Oil & Gas Seminar and Exhibition (Sogse) held last weekend are very important and maybe useful.

“Therefore it is hoped that the Sarawak government will examine these carefully and possibly, implement them.

“The state government is noted to have taken the right step to set up its own Petroleum Sarawak Berhad (Petros) and the action to exert its right over petroleum resources is very well understood by virtually all Sarawakians.

“It is also equally important that the ideas and suggestions that come from industry players are taken in as it may able to help to manage the resources effectively,” said Helmi.

The two-day seminar came up with seven resolutions and proposed action plans that were unveiled to Chief Minister Datuk Patinggi Abang Johari Tun Openg yesterday.

The resolutions are:

1. To support the Sarawak government’s effort to reaffirm its inalienable rights of ownership and control of Sarawak’s oil & gas resources via the Oil Mining Ordinance 1958, in accordance with the Malaysia Agreement 1963, the Sarawak Constitution and the Federal Constitution.

2. To support the Sarawak government’s desire to engage with the federal government towards having a mutually agreeable formula while working towards the resolutions on the legality issues so as not to disrupt the progress and development of Sarawak’s oil and gas industry and businesses.

3. To ensure a sustainable, secure and affordable development of Sarawak’s oil and gas resources through a comprehensive Sarawak oil and gas masterplan, covering the total oil and gas value chain, including to consider the establishment of a sovereign oil and gas wealth fund for the benefits of future generations of Sarawakians.

4. To call for the Sarawak government to enhance the Sarawak Minerals Management Authority (SMMA) to monitor, regulate and enforce Sarawak’s prevailing laws and formulate new laws and regulations relating to all oil and gas operations in Sarawak with the aim of improving the prospectivity of acquiring, investing, developing and producing Sarawak oil and gas assets.

5. To call for the establishment of a Sarawak Petroleum Consultative Council comprised of a broad spectrum of stakeholders particularly from the oil and gas industry in collaboration with the state in ensuring maximum value creation, effective management and meaningful returns from all oil and gas activities and matters affecting Sarawak.

6. To call for the Sarawak government to expeditiously establish local content baseline and policy in terms of value of all oil and gas contracts given out in Sarawak to be allocated to genuine Sarawakian companies and to prioritise the employment of local human resources and the use of Sarawakian oil and gas services and equipment (OGSE) vendors.

7. To promote innovation initiatives that underpin the future development of Sarawak’s oil and gas industry by establishing Sarawak’s Oil and Gas Innovation Centre (Sogic) in Miri as realised in Sogse 2019.

At the opening ceremony, Abang Johari witnessed the commemoration of the collaboration framework for the establishment of Sogic that saw the exchange of documents between Serba Dinamik Holdings Berhad represented by the group’s managing director and CEO Datuk Ir Mohd Abdul Karim Abdullah, DUBS Holdings Sdn Bhd represented by managing director Osaha Suhaili, Suarah Petroleum Group represented by president Jamel Ibrahim and Curtin University Sarawak represented by pro vice chancellor Professor Jim Mienczakowski.

The Sogse, held at a leading hotel on April 13 and 14, was organised by Sarawak Bumiputera Chamber of Entrepreneurs (DUBS) in collaboration with Suarah Petroleum Group (SPG) and Malaysian Oil & Gas Services Council (MOSGSC) and supported by Sarawak government and Deckworks Events.

[Source: “Consider views on managing petroleum assets” published by BorneoPost Online]

Photo Credits: BorneoPost Online

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