Hamid Bugo appointed Petros chairman

The appointment was announced by the Chief Minister's Office (CMO) here today.

The other board members are Datuk Mohammad Medan Abdullah, Sharbini Suhaili, lr. Zuraimi Sabki and Heng Hock Cheng, the CMO said in a statement.

According to the statement, Chief Minister Datuk Amar Abang Johari Tun Abang Openg had expressed confidence in the Petros board, as it comprised experienced industry professionals with very strong and proven track records, while having served in key positions in the oil and gas industry.

The statement said the appointment of a credible board ensured that Petros would advance in the right strategic direction, as well as operate with a sound business model, in achieving its intended objectives.

Hamid, 72, also once served with Malaysia LNG Sdn Bhd for several years in Bintulu.

Petros was established with the primary objective of enabling Sarawak to participate in the upstream oil and gas development, particularly in the exploration and extraction of oil and gas within the state waters.

The establishment was also in line with Sarawak's aspiration to create better job opportunities for locals and also attract those talent and expertise from the state currently serving outside.

"At the same time, Petros can also be a good platform to groom more entrepreneurs to support the growth and innovations of high value- added industries in the state.

"Petros is now embarking on a head hunt for its Chief Executive Officer and other key management positions to enable it to be operational ready by the first quarter, 2018," the statement said.