O&G firms see RM398m export potential

December 3, 2018

INSP is International Sourcing Program.

Dateline 2018-10-09, Malaysian Reserve:

MALAYSIAN companies have recorded a total RM397.9 million of export potential via the International Sourcing Programme (INSP) at the 4th Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) 2018 that was held between Sept 25 and Sept 26, 2018.

The exhibition saw the participation of 34 Malaysian oil and gas (O&G) companies that were eyeing export markets including the United Arab Emirates, Pakistan, Turkey, Myanmar and Vietnam.

Malaysia External Trade Development Corp (Matrade) CEO Dr Mohd Shahreen Zainooreen Madros (picture) said in a statement the export potential was configured through 86 meetings organised under the INSP.

“The INSP helps a great deal for local companies as they get to meet with the foreign buyers in their home country, giving them a competitive advantage in terms of cost,” he said.

He added that foreign buyers at the INSP this year were sourcing various Malaysian O&G services including equipment and parts, rig cooling services, well-testing support equipment services, vessel monitoring systems, remote monitoring, manpower supply and services, transportation and logistics, services gas, as well as saturation logging and simulation studies.