Sarawak eyes RM2.1 bln PETRONAS contracts

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THE state is targeting RM2.1 billion worth of contracts from Petroliam Nasional Berhad (PETRONAS) as it recovers from the COVID-19 pandemic.

Deputy Premier and International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hasan explained that PETRONAS had earlier agreed to award at least RM2.1 billion worth of contracts annually as a baseline within Sarawak waters to Sarawak companies, including contracts awarded under various production sharing contracts. 

“We note that in recent pandemic times, the targeted contract value was not achieved due to low activities in the oil and gas sector, with RM1 billion received in 2020, and RM1.99 billion in 2021. 

“However, we expect the RM2.1 billion target to be achieved as we recover from the COVID-19 pandemic,” he said in his ministerial winding-up speech in response to concerns raised by Pelagus assemblyman Wilson Nyabong Ijang today.

He said PETRONAS had also agreed to work towards increasing the contract threshold for Sarawak small and medium contractors.

“For the upstream sector, the contract value threshold will be increased from RM10 million to RM20 million by 2025.  This value will be further increased to RM50 million by 2030; and for the downstream sector, the contract value threshold will be increased from RM5 million to RM10 million by 2025.  This value will be further increased to RM20 million by 2030,” he added.

Awang Tengah said Sarawak had also proposed that the PETRONAS’ Standardised Work and Equipment Categories (SWEC) Code priority for contractors from Sarawak be increased by 100 per cent by 2025 from the current baseline of 63 categories. 

“The SWEC Code priority will be further increased to 600 categories by 2030,” he said.

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