KOTA KINABALU, Dec 7 (Bernama) — The Sabah State Government and PETRONAS are pleased to announce the signing today of a Commercial Collaboration Agreement to further enhance the collaboration between the two parties in developing the oil and gas industry in Sabah.
The Agreement, which was concluded under the steer of the Federal Government, is a testament of an expanding mutually beneficial relationship between the state and PETRONAS, as the national oil and gas corporation, in responsibly realising the full potential of the domestic oil and gas industry. Specifically, for the State of Sabah, the objectives of this Agreement are to increase the revenue for Sabah from oil and gas production in the state by increasing its participation in the oil and gas industry and its value chain and to have greater involvement together with PETRONAS in the oil and gas development in the state.