How will Kelantan Ventures Sdn Bhd explore petroleum industry opportunities?

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Kelantan Ventures Sdn Bhd to Strategically Engage in Petroleum and Gas Sector Development

Kelantan Ventures Sdn Bhd (KVSB) will explore opportunities in the petroleum and gas industry through a structured and strategic approach, focusing on building capacity, identifying investment prospects, and forging collaborations within the industry's value chain. This special purpose company, established by the Kelantan Menteri Besar Corporation, aims to ensure that the state's natural resources benefit its people and contribute to sustainable economic development. KVSB's initiatives are designed to align with the broader development of the Northern Offshore Oil & Gas Corridor.
Focus on Value Chain Development and Support Services

KVSB's engagement will concentrate on developing the petroleum and gas value chain, encompassing critical areas such as supply bases, logistics, and support services for both upstream and downstream operations. Furthermore, the company will actively seek opportunities within the broader energy sector. This comprehensive approach is intended to maximise Kelantan's participation and benefits from the industry.
Alignment with Regional Development Initiatives

The strategic direction of KVSB is closely linked to the development of the Northern Offshore Oil & Gas Corridor. This includes leveraging existing infrastructure like the Tok Bali Supply Base (TBSB) and the Tok Bali Industrial Park (TBIP). The initiative also anticipates future integration with the logistics network of the East Coast Rail Link Project, creating synergistic opportunities for the state.
Building Capacity and Establishing Reputable Partnerships

Through KVSB, the Kelantan government is committed to building its institutional capacity and expertise in the petroleum and gas sector. A key aspect of this strategy involves establishing collaborations with reputable companies that are established players within the industry value chain. This will facilitate a more informed and effective approach to investment and operational participation.
Ensuring Benefits for the People

The overarching objective of KVSB's establishment and its strategic exploration of the petroleum and gas industry is to ensure that the returns generated can be channelled back to the state. Ultimately, these benefits are intended to be enjoyed by all the people of Kelantan, contributing to the state's economic well-being in a phased and responsible manner.

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How will Kelantan Ventures Sdn Bhd explore petroleum industry opportunities?

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