KUCHING: Kota Sentosa assemblyman, Wilfred Yap Sau Sin, has urged PETRONAS to honour the spirit and mechanisms of the Commercial Settlement Agreement (CSA) signed with the Sarawak Government by engaging PETROS transparently and constructively in all relevant oil and gas activities.
He said meaningful collaboration between PETRONAS and PETROS was crucial to uphold Sarawak’s rights under the Malaysia Agreement 1963 (MA63) and the Oil Mining Ordinance 1958 (OMO), while ensuring fair reinvestment of petroleum revenue for the state’s socio-economic development.
“The relationship between the federal and Sarawak governments should never be viewed as a zero-sum game, but as a win-win partnership – one that safeguards Sarawak’s constitutional rights while supporting Malaysia’s overall energy security and economic growth,” Yap said in a statement today.
Yap was responding to the recent disclosure in Parliament by Minister in the Prime Minister’s Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, that Malaysia’s petroleum revenue totalled RM775.2 billion for the period 2018-2024, with Sarawak contributing RM285.4 billion – the highest among all regions.
“These figures underscore the central role that Sarawak plays in the nation’s oil and gas sector.
“Together with the published investment-to-revenue ratios (Sarawak 40 per cent, Peninsular Malaysia 30 per cent, Sabah 27 per cent), demonstrate that Sarawak is not only Malaysia’s leading petroleum-producing region but also a magnet for reinvestment and continued industrial confidence.
“This performance reflects Sarawak’s strong governance and sound policies in managing its natural resources,” he said.
He said that PETRONAS must give full effect to the CSA, which was signed on December 7, 2020, by engaging constructively with PETROS in areas envisaged under that settlement.
“The CSA established a formal consultative framework for coordination and envisaged greater participation by PETROS, particularly in Oil and Gas activities and investment opportunities, while creating joint mechanisms for strategic cooperation between PETRONAS and the Sarawak government,” he added.
Yap added that the Sarawak Government, under Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, has ambitious plans to diversify the state’s energy economy through hydrogen, renewables, and downstream petrochemical development under the Post COVID-19 Development Strategy (PCDS) 2030.
“A sincere and cooperative relationship between PETRONAS and PETROS will help realise these goals and strengthen Malaysia’s overall energy ecosystem,” he said.
He reiterated that continued engagement between PETRONAS and PETROS would preserve public trust, promote transparency in revenue reporting, and ensure Sarawak’s fair participation in national prosperity.
