Batu Kitang State Assemblyman, Dato Ir Lo Khere Chiang has expressed confidence in Sarawak\u2019s direction in the oil and gas sector, despite concerns following ConocoPhillips\u2019 withdrawal from the Salam-Patawali deepwater project.<\/p>\n\n\n\n
He said the project is still in the feasibility stage, which explains why ConocoPhillips is able to exit the venture at this point. However, he stressed that this should not be seen as a loss for Sarawak.<\/p>\n\n\n\n
\u201cThe door is not closed. There remains an opportunity for ConocoPhillips to return in the future, this time under fairer terms for Sarawak, with PETROS representing the state\u2019s interest,\u201d he said.<\/p>\n\n\n\n
He suggested that a more balanced partnership could be a 50:50 joint venture, where Sarawak might allocate 5 percent to the federal government, in recognition of the same percentage that has been given to the state for the past 50 years.<\/p>\n\n\n\n
\u201cConsidering that the oil and gas come from Sarawak\u2019s own territory, we would be generous to even offer that,\u201d he added.<\/p>\n\n\n\n
Citing Guyana\u2019s model with ExxonMobil, where the government receives a substantial share of revenue without any upfront investment, Lo said Sarawak deserves similar treatment.<\/p>\n\n\n\n
He pointed out that Sarawak has received only a 5 percent cash payment under the Petroleum Development Act 1974, a law passed during the Emergency period without the approval of the Sarawak State Legislative Assembly.<\/p>\n\n\n\n
\u201cThere are no records in our Hansard showing that the Act was ever passed by our state assembly,\u201d he said.<\/p>\n\n\n\n
He also expressed disappointment that despite Sarawak\u2019s large contribution to the national revenue, it still lags in development and infrastructure due to limited federal allocation.<\/p>\n\n\n\n
He noted that Sarawak\u2019s Oil Mining Ordinance 1958 predates the PDA74 and remains a valid legal basis for Sarawak to regulate its own resources.<\/p>\n\n\n\n
\u201cWhether or not the courts rule in our favour, the fact remains that Sarawak must play a greater role in managing and benefiting from its natural wealth,\u201d he said.<\/p>\n\n\n\n
Lo questioned the continued role of PETRONAS in negotiating deals for Sarawak when the operational work is often carried out by international companies.<\/p>\n\n\n\n
\u201cIf Shell or ConocoPhillips are doing the work, PETROS should be able to deal directly with them. There\u2019s no reason for PETRONAS to act as a middleman when it isn\u2019t operationally involved,\u201d he said.<\/p>\n\n\n\n
He stressed that Sarawak remains open to global investors, as long as the terms are fair, transparent, and mutually beneficial.<\/p>\n\n\n\n
\u201cThis is not about confrontation. It\u2019s about restoring fairness and fulfilling the promises made under the Malaysia Agreement 1963,\u201d he said.<\/p>\n\n\n\n
Lo voiced support for Premier Abang Johari\u2019s firm stance on Sarawak\u2019s rights, adding that the GPS government is steering the state toward a stronger, self-determined future.<\/p>\n\n\n\n
\u201cLet the cynics talk. Sarawak is moving forward with confidence and clarity, taking control of its own destiny,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Batu Kitang State Assemblyman, Dato Ir Lo Khere Chiang has expressed confidence in Sarawak\u2019s direction in the oil and gas sector, despite concerns following ConocoPhillips\u2019 withdrawal from the Salam-Patawali deepwater project. He said the project is still in the feasibility stage, which explains why ConocoPhillips is able to exit the venture at this point. However, he stressed that this should not be seen as a loss for Sarawak. \u201cThe door is not closed. There remains an opportunity for ConocoPhillips to return in the future, this time under fairer terms forRead More<\/a><\/p>\n","protected":false},"author":1,"featured_media":32372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,1,7],"tags":[],"_links":{"self":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/32999"}],"collection":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32999"}],"version-history":[{"count":1,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/32999\/revisions"}],"predecessor-version":[{"id":33000,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/32999\/revisions\/33000"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/media\/32372"}],"wp:attachment":[{"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32999"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}