PUTRAJAYA DIS.7: The Commercial Collaboration Agreement (CCA) that was signed between the Sabah State Government and PETRONAS in Kota Kinabalu, Sabah today was a landmark for the joint efforts in the oil and gas industry development in Sabah.
Prime Minister, Datuk Seri Ismail Sabri Yaakob said, the strategic cooperation will give the economic spill over effect as a whole in the state concerned.
Ismail added, the agreement that has been signed will enable Sabah Government to play a greater role in expanding the oil and gas industry via joint efforts with PETRONAS apart from opening more business opportunities to local companies to be involved in the oil and gas services in Sabah.
“At the same time PETRONAS will continue to play as a petroleum company owned by the country with full power in monitoring the development of the oil and gas industry as a whole in line with the national law,” Ismail said in a statement here today.
The Prime Minister emphasized that the successful consensus reached signifies the commitment of the Federal Government to cooperate with Sabah State Government to ensure the inclusive development will not only benefit the country but to be enjoyed together in a fair and equitable manner.
Meanwhile the Chief Minister of Sabah, Datuk Seri Panglima Hajiji Noor said, a Joint Committee was set up by the Special Council on the 1963 Malaysia Agreement to discuss Sabah’s commercial involvement in the oil and gas industry between the Federal Government, State Government and PETRONAS.
“Before the formation of the Joint Committee, Sabah State Government and PETRONAS had already taken their own initiative to hold talks starting on Oct.8 2021 and two months later after numerous meetings, the CCA was finalised.
“This shows that PETRONAS and Sabah State Government can work together in the development of the oil and gas industry in Sabah.
“The commitment of both Sabah Government and PETRONAS has made it easier for the Federal Government because it took only one Joint Committee Meeting for both sides to reach a common ground that was stipulated in the CCA,” he said in a statement in Kota Kinabalu today. –Malaysia World News