SEDC, Petronas, Shell, PTTEP sign HOA to advance downstream ambitions

The Sarawak State Government, through Sarawak Economic Development Corp. (SEDC), entered into a Heads of Agreement (HOA) with Petronas, Sarawak Shell Bhd., and PTTEP HK Offshore Ltd. (PTTEP) for a long-term lease of land within the Petchem Industrial Park in Tanjung Kidurong, Bintulu, Sarawak.

Both the land and Petchem Industrial Park belong to SEDC, Petronas said in a release June 23.  

The creation of the Petchem Industrial Park by SEDC in 2020 was to encourage active participation from domestic and international investors, to intensify Sarawak’s downstream oil and gas activities, Petronas continued.

The earmarked land will be leased to build an onshore plant complex which forms part of the Sarawak Integrated Sour Gas Evacuation System (SISGES) project. The project is expected to lead to more development of untapped sour gas resources off the coast of Sarawak. The development plan is undergoing its final review prior to a positive investment decision and approvals.