KOTA KINABALU: Sabah eyes bigger PETRONAS contracts this year by establishing strategic mentorship relations with larger and more established companies.

State Finance Minister Datuk Seri Masidi Manjun said few Sabah firms secured tenders and contracts with oil and gas companies.

“Sabah firms accounted for only 12% of the total value of contracts awarded by Petronas last year. This figure is very low, and we hope to increase it to at least 30% this year with proper mentor-mentee alliances,” he said.

He said Sabah was relatively new in this industry, and they needed to learn more from those with more experience in this field.

Masidi, the chairman of SMJ Energy Sdn Bhd, said this during a recent networking session here.

“After talking to PETRONAS, one of the ways in making sure that there are more Sabah companies in a position to win contracts is to establish partnerships with companies who have done it before,” he said.

“So, we have decided that they should establish a mentor-mentee relationship, whereby bigger companies, more established companies from West Malaysia and Sarawak, will be able to mentor Sabah companies who are new in the business.

“This means that Sabah companies indirectly with a mentor will be able to participate in the bigger contracts over time,” said Masidi.

With this, he hopes Sabah companies would be able to stand and operate independently in this field in future.

He said Sabah is now exploring new oil and gas development areas on the east coast, out of which he believes Petronas has already awarded parts of these blocks.

“There are two blocks in which Sabah has an interest,” Masidi said, adding that Sabah can expect more ‘exciting times’ ahead.