Petroleum Sarawak Berhad (Petros) plans 10 exploratory oil and gas wells across nine promising onshore areas, with an estimated investment of RM500 million. Balingian, Limbang-Lawas, Marudi and Niah are the named drilling areas. The programme was outlined in the Sarawak Ministry of International Trade, Industry and Investment’s winding-up at the State Legislative Assembly on Oct 21, DayakDaily reported. It is intended to identify new reserves using advanced technology. The nine areas and 10 wells describe an exploration programme, not nine confirmed discoveries or 10 producing wells. Likewise, RM500 million is the estimated investment attached to the plan, rather than a reported sum already spent. The state also identified Miri, Samalaju, Bintulu and Kuching as gas-development hubs. That is a separate geographical list: Kuching’s inclusion as a hub does not put one of the announced onshore drilling areas in the city. For Sarawak engineering, fabrication, maintenance and logistics firms, the ministry linked wider oil and gas development to potential work opportunities and local participation. Those prospects remain different from contracts already awarded; the update did not set out individual well start dates or tender openings.

Sarawak-based United Asiapac Energy Bhd made its debut on Bursa Malaysia’s ACE Market on Monday, opening at its initial public offering price of 35 sen a share. The listing gives the oil-and-gas services company more room to expand its well-intervention business in East Malaysia and beyond. Its services cover work such as well integrity, fishing and plug-and-abandonment operations for upstream operators. The company said its IPO raised RM47.83 million. It plans to use part of the proceeds for new equipment, workforce expansion and engineering capability. The firm has completed more than 200 projects since 2021, according to the company’s listing information reported on Monday. For Sarawak, the development is also part of the state’s push to bring more Bumiputera companies into the capital market. United Asiapac is the first of a state target of three Sarawak Bumiputera companies listed on Bursa Malaysia by 2030.