O&G players must grow in terms of technology, says MPRC

July 31, 2015

Dateline 2015-06-11, The Sun:

Malaysia Petroleum Resources Corp (MPRC) is pushing for oil and gas (O&G) players to be more innovative in terms of technology in order to be more competitive and to remain sustainable when natural resources are depleted.

Executive director Dr. Shahreen Zainooreen Madros said the majority of O&G service providers are only servicing the local market, despite the sector being a mature industry with an established value chain.

“Eventually when our oil is completely depleted, we hope there is still a services industry in Malaysia to serve the region. The important thing to know is the urgency to develop our services sector. We cannot depend on our natural resource forever because it is a reserve that one day will run out,” he told reporters at the launch of MPRC 100 yesterday. MPRC 100 is a list of top 100 O&G companies operating in Malaysia.