Prime Highlights:
Sabah launches an RM8.88 billion project at Sipitang Oil and Gas Industrial Park (SOGIP) to establish itself as a key regional energy hub.
The project is a collaboration between the Sabah Oil and Gas Development Corporation (SOGDC) and Gibson Shipbrokers Limited.
Key Background:
Sabah is embarking on a transformative RM8.88 billion project at the Sipitang Oil and Gas Industrial Park (SOGIP), positioning the state as a pivotal energy hub in Southeast Asia. Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor revealed that the project will establish Sabah as a key player in the regional oil and gas sector, solidifying its position in the global energy landscape.
The ambitious initiative is a joint venture between the Sabah Oil and Gas Development Corporation (SOGDC) and Gibson Shipbrokers Limited, a maritime and energy industry leader. The project includes the development of an advanced port to facilitate energy transportation and trade, contributing to the growth of the energy sector. Additionally, the project will prioritize the employment of a local workforce, with 80% of the jobs dedicated to Sabahans.
Hajiji emphasized that SOGIP will serve as a catalyst for long-term growth within the energy sector, which is essential for Sabah’s economic prosperity. He highlighted the immense potential for collaboration and innovation in oil, gas, and energy industries, which will directly benefit both the local communities and the broader sector.
At the project launch at the Sabah International Convention Centre (SICC), the Chief Minister also stressed the importance of the initiative in enhancing Malaysia’s domestic economy and ensuring regional energy security. Moreover, the development aligns with Malaysia’s ambitions for sustainable energy. The energy infrastructure at SOGIP is being designed to support the country’s renewable energy goals, ensuring a smooth transition from fossil fuels to greener alternatives such as solar and wind power.
SOGDC Chairman Datuk Seri Abdul Rahman Dahlan outlined that international investors from countries such as Singapore, the UK, the Philippines, Japan, and Saudi Arabia have expressed interest. The project is expected to provide a strategic advantage, particularly for Middle Eastern oil and gas producers aiming to supply markets in China, Japan, and South Korea, positioning Sabah as a cost-effective storage and distribution hub. The project is currently in its design phase, promising a significant contribution to both national and regional energy markets.
