Kota Kinabalu: Petroventure Energy Sdn Bhd’s Petroleum Storage Tank and Refinery Plant Project at Sabah Oil and Gas Industrial Park (Sogip) holds a deeper significance—it is an investment in human capital, skill development, technology transfer and local industry participation that will transform Sabah’s economic landscape, said its Executive Chairman cum CEO Mohd Sham Mohd Yasin.
“We are not merely building an oil refinery; we are realising dreams, empowering communities and laying the foundation for a sustainable future.”
Mohd Sham said Petroventure Energy was established in 2019 with the objective of developing the Petroleum Storage Tank and Refinery Plant project at the Sogip.
The company has secured all necessary approvals from the Federal and Sabah authorities, including a Factory Manufacturing License (FML), an Import-Export License (PDA-2) from the Investment, Trade and Industry (Ministry Miti) and an Interim Development Plan (IDP) from the State Planning Council Secretariat and Sipitang District Council—paving the way for the project’s commencement.
He said this project is more than just an infrastructure milestone; it is a symbol of progress, resilience and innovation.
“This world-class facility will feature petroleum storage tanks with a capacity of three million cubic metres and an oil refinery capable of processing 120,000 barrels per day. These figures are not just statistics; they reflect growth, economic empowerment, and Sabah’s boundless potential in the energy sector.
“However, beyond the investment and technical capabilities, this project carries a deeper meaning—it represents an investment in human capital, skill development, technology transfer, and the participation of local industries, all of which will reshape Sabah’s economic future.
“We are not just constructing a refinery; we are driving ambition, empowering communities and building a strong foundation for a sustainable future,” he said at the launch of the Petroleum Storage and Refinery Plant Construction Project at Sogip in a ceremony held at Sabah International Convention Centre (SICC) here Tuesday.
Mohd Sham also extended deepest appreciation to the Sabah Government, under the leadership of Datuk Seri Hajiji Noor, for its commitment to industrial development; to Federal and State regulatory bodies for their guidance and support; and to industry partners, investors and stakeholders who believe in this vision.
As investors and stakeholders in the energy industry, Mohd Sham firmly believe that true success is not measured solely by profit or production capacity.
“Instead, true success lies in the legacy we leave behind. Sustainability must be our foundation. We are committed to upholding the highest environmental, safety and operational standards. Innovation must be our driving force. This refinery is not just about processing petroleum—it is about technology, efficiency and industrial excellence.
“The community must remain our priority. Every project, every decision, and every investment must benefit the people and create opportunities for future generations. “This is only the beginning of our journey. Together, we will ensure that Sabah is not only an energy producer but a global leader in sustainable, innovative, and inclusive industrial development. Let us move forward with determination and unity, working towards a brighter and more prosperous future for Sabah.”
