SMJ Energy achieves seventh crude oil lifting, generating RM1.5 billion in cumulative revenues to date

14 December 2024

KOTA KINABALU: SMJ Energy Sdn Bhd (SMJE) has reached a new milestone in the oil and gas sector with its seventh crude oil lifting under the Samarang Production Sharing Contract (PSC) in December 2024.

This lifting, involving approximately 300,000 barrels of crude oil valued at RM100 million, brings SMJE’s total crude and gas sales revenue to RM1.5 billion since 2023.

SMJE’s crude sales have served both domestic and international markets, while its gas sales exclusively supply customers in Kota Kinabalu Industrial Park (KKIP) and Labuan.

As Samarang PSC is the sole gas supplier to KKIP, SMJE plays a vital role in supporting Sabah’s power sector and industrial growth.

SMJE acts as a prudent financial investor focusing predominantly on profitable producing assets with strong cash flows operated by reputable Operators with proven ESG (Environmental, Social and Governance) track record