17/01/2013 (Borneo Post) - Pakatan Rakyat’s promise of giving Sarawak a 20 per cent oil royalty as compared to the present five per cent if it managed to win the fast-approaching general election is only good in theory.

PRS president Tan Sri Dr James Masing said the federal government certainly could give the state 20 per cent but it would all end up status quo if it stopped other allocations in return.

“We have been receiving other allocations (from the federal government) apart from the oil royalty. The federal government may just increase the oil royalty to 20 per cent but after that they stop all other allocations. They can do that,” he told The Borneo Post yesterday.

Masing, who is also Minister of Land Development, said a better option to increasing oil royalty would be to let Sarawakians have equity in the production of oil and gas.

“Royalty is a good thing, however, I think we should ask for production sharing in Sarawak’s concession instead of royalty,” he added.

“Asking for royalty is a lazy man’s way out. We want to be part of the equity of oil and gas production than just asking for an increase in oil royalty.”

Citing the example of palm oil projects, Masing said to be part of the oil palm plantation equity meant helping to harvest palm oil and not just waiting to be given the profit made in this venture.

“Be part of equity means however much is invested, for example RM100 million, we also need to put in as much. And we have the means to do it after all.”

Dato Kristoffer Nyuak Bajok, the executive director of CGG Veritas (Malaysia), an oil and gas exploration company, concurred with Masing’s stance.

“Sarawakians are capable of handling their own oil and gas. A lot of our people are working for Petronas now.”

Kristoffer added that presently many Sarawakians, especially Ibans, were working offshore in other oil and gas companies.

“We used to send a lot of Ibans to do oil exploration throughout the world. We have made our presence felt in the oil and gas industry globally,” he said proudly.

“If we were given the chance to manage our oil and gas, I believe that all these oil and gas personnel will come back.”