KOTA KINABALU: Datuk Seri Masidi Manjun says he will "bang tables and walk out" if he is unhappy with the progress of negotiations for Sabah's oil and gas rights.

       The state Finance Minister II said this during the Sabah State Assembly sitting on Monday (March 21).

       Masidi - who is in the state government team currently negotiating for its oil and gas rights with the Federal Government and Petronas - however said that the state would soften its stand on its claims on revenue rights from the oil and gas industry.

       He then added that Sabah's negotiations are in line with the aspirations of the people of the state.

       "Don't worry about gas. Even though I am a simple villager, a Dusun from the hills of Ranau, I will defend the rights of Sabah," said Masidi.

       "I am willing to walk out of the negotiation room and bang tables if I am not satisfied," he said in answer to a supplementary question from Datuk Seri Mohd Shafie Apdal (Warisan-Senallang) at the Sabah State Assembly question-and-answer session here on Monday.

       Shafie had asked about the state government's efforts in ensuring that Sabah's oil and gas rights are truly returned to the state as demanded through negotiations with Petronas.

       Masidi said as a result of the state government's continued discussions, Petronas has agreed to develop a floating oil and gas facility at the Sipitang Oil and Gas Industrial Park (SOGIP) and added that the project will be implemented this year.

       "Petronas has agreed to build this facility in SOGIP, there is no doubt. God willing it will be implemented this year," he said.

       To another question by nominated assemblyman Datuk Yong Teck Lee on the reasons for confidentiality about the Petronas deals, Masidi explained that some matters needed to kept confidential due to business interests.

       Masidi said there was a level of secrecy during the negotiations and added that it would be clearer once they were successfully concluded.

       “For example, if we are given the right to take over the equity of Petronas, when we take over it will be disclosed to the public. Since there is competition in the business, it is kept secret during the negotiations," said Masidi.

       “It will be revealed to the public when the time comes. That is the intention of the confidentiality; not that we do not want to tell or because there is something we want to hide. There is no such intention,” he added.

       When answering the original question from Datuk Mohamaddin Ketapi (Bersatu - Segama), Masidi told the house that Sabah would benefit in opportunities in upstream, liquefied natural gas (LNG) and downstream activities through the Commercial Cooperation Agreement (CCA) with Petronas as of Dec 7 last year.

       He said said the opportunities in the three activities would benefit local companies involved in the oil and gas industry while the state government would also participate through shareholding to ensure that the profits of the oil and gas industry can provide high returns or revenue to the state government.

       Masidi added that Petronas was committed to paying oil royalties and state sales tax as part of its efforts to get a greater revenue share in the oil and gas industry.