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KUALA LUMPUR: Sarawak Economic Development Corp (SEDC) has signed a land heads of agreement (HOA) with Petronas, Sarawak Shell Bhd and PTTEP HK Offshore Ltd for a long-term lease of land within the Petchem Industrial Park in Tanjung Kidurong, Bintulu, yesterday.

In a statement today, Petronas said the designated land is to build an onshore plan complex which forms part of the Sarawak Integrated Sour Gas Evacuation System (SISGES) project.

"The SISGES project is expected to be the catalyst for more development of untapped sour gas resources off the coast of Sarawak and the developing plan is currently in its final review process,” it stated.

Petronas signified that collaborations with agencies under the Sarawak state government, such as with the SEDC, as a major milestone in creating as well as maintaining a stable, conducive business and investment environment for the sustainable growth of the oil and gas industry in the state.

SEDC created the Petchem Industrial Park in 2020 to encourage active participation from domestic and international investors to intensify Sarawak’s downstream oil and gas activities which are in line with the Sarawak state government’s aspiration toward becoming a developed state by 2030. - Bernama