The extension is for Sabah's crude oil cargo at the Labuan Crude Oil Terminal from its 50 per cent interest in the Samarang Production Sharing Contract for up to three years from Jun 2024. (Sabah MOF pic)
Kota Kinabalu: Sabah has continued its long-term collaboration with Shell International Eastern Trading Company (Sietco) by extending its ongoing sales and purchase agreement (SPA).
The SPA extension is for Sabah's crude oil cargo at the Labuan Crude Oil Terminal from its 50 per cent interest in the Samarang Production Sharing Contract for up to three years from Jun 2024.
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The long-term collaboration was marked by a signing the SPA extension between Sabah’s wholly-owned SMJ Energy Sdn Bhd (SMJE) and Sietco in a ceremony held at the Sabah International Convention Centre, here, Monday.
SMJE Vice President (Business Development) Faisal Abdul Rahman and Sietco Business Manager Terence Yuen signed the SPA Extension document.
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Sabah Finance Minister Datuk Seri Masidi Manjun, who is also the Chairman of SMJE, witnessed the signing.
Also present were representatives from SMJE, Sietco and Shell Malaysia.
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