Jefri (third left), Ho (fourth right) and Farid (second right) show the MoU documents after the signing ceremony, witnessed by Abang Johari (fifth left).
KUCHING (Feb 25): Senari Synergy Sdn Bhd, Tulen Energy Sdn Bhd and Ocean Vantage Engineering Sdn Bhd, a subsidiary of Ocean Vantage Holdings Berhad, signed a Memorandum of Understanding (MoU) today to explore the development of a condensate refinery in Sarawak, strengthening the state’s downstream oil and gas industry.
The MoU exchange ceremony was held during the EIC Connect Energy Borneo 2025 at the Hikmah Convention Centre here and was witnessed by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
According to a press statement, the proposed refinery will convert locally produced condensate, a byproduct of Sarawak’s booming natural gas industry, into high-value refined products including naphtha, jet fuel, diesel and liquefied petroleum gas (LPG).
“This initiative aligns with Sarawak’s long-term vision to strengthen its position as a regional energy hub and drive industrial growth through strategic downstream investments.
“The establishment of a condensate refinery is expected to bring significant benefits to Sarawak, including economic growth and industrial development; job creation and skills development; energy security and self-sufficiency; export potential and global market expansion; and integration with existing infrastructure,” it said.
For Senari Synergy, Tulen Energy and Ocean Vantage, the project marks a strategic move into downstream processing, expanding their business portfolios and reinforcing their positions in the regional energy sector.
Through this collaboration, the consortium aims to maximise the value of Sarawak’s natural resources with in-country refining, establish a strong foothold in the downstream oil and gas industry for sustained revenue growth and develop a sustainable, competitive refinery model by leveraging technological advancements and industry best practices.
The consortium is dedicated to sustainable operations, ensuring the refinery upholds the highest standards of efficiency, emissions control, and environmental responsibility.
Senari Synergy group managing director Dato Jefri Ahmad Tambi said the MoU marks a significant step toward realising Sarawak’s ambition of becoming a key downstream oil and gas player.
“By refining condensate locally, we create immense economic value while ensuring a secure energy future for the region,” he said.
Tulen Energy director Farid Wahid stated the collaboration enables the company to leverage its expertise in energy development and drive new opportunities in the refining sector.
Ocean Vantage chief executive officer Willie Ho said by leveraging their expertise alongside Senari Synergy and Tulen Energy, the partnership not only strengthens the local supply chain but also fosters the growth of Sarawakian companies in the oil and gas industry.
After signing the MoU, the consortium will carry out detailed feasibility studies, site selection assessments, and stakeholder consultations to assess the refinery’s commercial viability.
It will also engage with government authorities and industry partners to ensure regulatory compliance and alignment with Sarawak’s economic policies.
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