Malaysian Oil, Gas Service Firms Focus Overseas


Oh, maaan, just when I was going for the 1SWAC program…

Dateline 2013-07-25, Rigzone:

While Malaysia’s oil and gas services firms venturing overseas in search of business opportunities is nothing new, these operations are finally making significant contributions to the revenue than before – especially for the larger firms. The success of the larger companies in the foreign ventures has encouraged Malaysia’s small and medium sized oil and gas firms to adopt a similar approach in boosting revenue.

Strong Government Support

Oil and gas has historically played a significant role in Malaysia’s economy. The sector has been dominated by national oil and gas company Petroliam Nasional Berhad (Petronas), which was established as a result of the 1974 Petroleum Development Act. It gave Petronas responsibility for all petroleum resources in the country, including exclusive ownership rights to all domestic oil and gas exploration and production projects.

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