Sabah is set to secure a 30% stake in two new oil and gas fields off the state’s east coast, Chief Minister Datuk Seri Hajiji Noor has announced.
He said the state government is also finalising the acquisition of a 40% equity stake in a floating liquefied natural gas (FLNG) facility project in Sabah, with the agreement expected to be signed soon.
“Insya-Allah, the agreement for this partnership will be signed in the near future,” Hajiji said.
He added that Sabah would also develop new industrial parks, including in Kota Belud, as well as a blue economy hub in Kudat. These initiatives are aimed at attracting more investments while strengthening domestic economic activities and supply chains.
Hajiji, who is also Gabungan Rakyat Sabah (GRS) chairman, said the developments formed part of the state government’s efforts to strengthen Sabah’s participation in the oil and gas industry through strategic cooperation with Petroliam Nasional Bhd (Petronas) under the Commercial Collaboration Agreement (CCA).
According to him, the collaboration would increase the state government’s equity participation in oil and gas exploration and development while creating more opportunities for local companies to participate in the industry.
Meanwhile, Hajiji said the state government would continue focusing on strengthening its financial position and increasing revenue collection, which he described as important foundations for Sabah’s development.
He said Sabah had maintained annual revenue collections at around RM7 billion since 2022, with state revenue expected to rise to RM8 billion this year.
Speaking at the 32nd anniversary celebration of the United Progressive Kinabalu Organisation (UPKO) and the opening of its 17th Triennial Delegates Conference, Hajiji also highlighted Sabah’s strong investment performance.
He revealed that the state recorded RM7.6 billion in manufacturing investments in 2025, representing an increase of nearly 208% compared with 2024.
Hajiji said the achievement reflected Sabah’s economic resilience in facing domestic and global challenges, while further strengthening the state’s position as a strategic investment destination.
