Petros to allocate RM40 billion for capital expenditure over the next five years.
There were previous reports that PETRONAS would be distributing contracts worth RM70-90 billion, and companies awarded these contracts will have $T7GLOBAL (7228.MY)$ $DELEUM (5132.MY)$ $DAYANG (5141.MY)$ $PENERGY (5133.MY)$ $SAPNRG (5218.MY)$ $CARIMIN (5257.MY)$
DELEUM has already been the first to receive two contracts awarded by the national oil company on October 30th, and it is believed that other oil & gas companies will also gradually receive them. Although the margins for the MCM contracts are not high, they are expected to provide consistent income to these oil & gas companies.
PETROS's headquarters are in Sarawak, and there is a high probability that future CAPEX will be awarded to companies in Sarawak. The main oil & gas companies from Sarawak are DAYANG and PENERGY. $KKB (9466.MY)$ There may also be indirect benefits.
To gain a better understanding of the development in Sarawak, everyone can watch the following video for more information.