Proposed Joint Development of Oil and Gas Facilities Project at approximately 300 acres of land in SOGIP
EA. Gibson Shipbrokers Ltd (Gibson) and Sabah Oil & Gas Development Corporation Sdn Bhd (SOGDC) has signed a Memorandum of Understanding with the intention to collaborate in potential development of the Oil and Gas Facilities Project on a designated area of land in SOGIP measuring approximately 300 acres.
Gibson, is an international shipbroker, specializes in providing broking and research services to clients in the maritime, energy, and associated industries.
SOGDC, is a whollyowned company of the State Government of Sabah, is tasked with owning, managing, and marketing SOGIP.
The collaboration encompasses various potential industrial projects, including intermodal LNG transportation, LNG storage, oil & gas and to explore the potential of renewables and power generation.
The proposed Project may also involve further collaboration with an international consortium of premier oil & gas investments in order to establish a Tank Storage and Processing Facility at the designated land in SOGIP.
In addition, Gibson and SOGDC are exploring potential investment opportunities on the said designated land in SOGIP, particularly in Liquified Natural Gas (LNG) operations, including feedstock supply, floating storage facility, bunkering operations, shuttle vessels, regasification unit, and LNG import/export activities.
The collaboration between Gibson and SOGDC will benefit Sabah State and oil & gas industry in Sabah through a long-term cooperation which will result in job creation and economic spinoff.
The final feasibility study of the proposed Project is currently in progress. This milestone marks a crucial step forward in realizing the envisioned developments at SOGIP.
Gibson and SOGDC are excited about the prospects of this collaboration and believe that the proposed cooperation will significantly contribute to the growth of the Sabah region’s energy and industrial sectors.
SOGDC’s Chairman Datuk Seri Panglima Abdul Rahman Dahlan said SOGDC is aiming for a long-term cooperation with Gibson together with reputable international players to participate in the development of SOGIP to its maximum potential that will bring multibillion investments and thousands of high-quality jobs to the state of Sabah.
SOGDC’s CEO Datuk Harun Ismail added that the collaboration with Gibson and its global clientele will unlock feedstock availability and LNG import/export activities for domestic and international markets i.e. China, Japan and Korea that will position SOGIP as one of the key hubs in the region.
The event was also attended by the project management and feasibility study consultants, Preveld Oil & Gas Sdn Bhd and China Petroleum Pipeline Engineering Co., Ltd., respectively.