KOTA KINABALU, April 16 (Bernama) -- Brunei Darussalam is keen on exploring investment opportunities in the Sabah Development Corridor (SDC), according to the Malaysian High Commissioner to Brunei, Datuk Ku Jaafar Ku Shaari.

Brunei, according to him, is looking for opportunities to diversify its economy as its oil reserves are depleting, and it is also attracted to Sabah's natural endowments and locational advantage.

Therefore, both Sabah and Brunei can complement one other in the energy sector, he said in statement here Wednesday after he had attended a briefing on the SDC by the executive director of the Institute for Development Studies (IDS), Datuk Dr Mohd Yaakub Johari.

Ku Jaafar said he will initiate a visit by heads of foreign missions in Brunei to Sabah as he had done for Miri in Sarawak, as foreign diplomats generally are keen to find out more about the potentials of the places they visit. In his briefing, Dr Mohd Yaakub said Sabah has a lot to offer to investors from Brunei in the SDC.

For instance, Sipitang could be a potential location for the joint development of the energy sector in view of its proximity to the energy-intensive cluster of Labuan, Brunei and Bintulu.

According to him, the Sabah Gas & Oil Terminal (SGOT) project, which is being spearheaded by Petronas, will be at the northern side of Sipitang and will be linked to Bintulu via Sipitang by an undersea gas pipeline.

He said the SGOT project is expected to lead to further opportunities for future contracts for other countries in the region.

In addition, a maritime academy will be established in Sipitang to increase the value capture in oil & gas services as well as in providing the human capital needed by the logistics and shipping sectors in the oil & gas industries.

Dr Mohd Yaakub said aside from gas & oil, Brunei investors could also consider participating in sectors such as agriculture, livestock, tourism, logistics and shipping.

-- BERNAMA