OGSE industry to consolidate further

March 31, 2021

When Yazid talks, y’all listen like it’s a Friday khutbah.

Dateline 2021-03-18, Malaysian Reserve:

MALAYSIA Petroleum Resources Corp (MPRC) expects local oil and gas (O&G) services and equipment (OGSE) players to reduce asset ownership this year despite the easing of movement restrictions and modest economic recovery.

MPRC president and CEO Mohd Yazid Ja’afar (picture) said for 2020-2021, it will be a challenging period for OGSE players due to disruption of economic activities which has led to grounding of thousands of airplanes and destruction in demand for oil.

“We expect 2021 to be a slightly better year for the OGSE industry as major economies start to reopen, albeit with strict adherence to Covid-19 standard operating procedures like observing physical distancing, and countries like the UK, US, China, India and Malaysia have rolled out their vaccination campaigns,” he said in a statement yesterday.

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Suhaili Idrus appointed chairman of MPRC

March 25, 2021

I don’t say that he doesn’t look great in the article photo, but 90s is asking for their photo back. And when is Yazid getting his Datukship?

Dateline (hey, there’s no date), The Star:

Oil and gas industry veteran Datuk Dr Ahmad Suhaili Idrus has been appointed chairman of the Malaysia Petroleum Resources Corporation (MPRC).

In a statement on Friday, MPRC president and chief executive Mohd Yazid Ja’afar said Suhaili Idrus’ appointment is part of the agency’s strategic effort to provide additional leadership experience to support its growth aspiration.

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‘Diversification is key to Malaysia OGSE companies’ long-term survival

March 15, 2019

And congratulations Mohd Yazid Ja’afar .

Dateline 2019-02-08, Sarawak Tribune:

Malaysian oil and gas services and equipment (OGSE) companies must diversify their businesses to remain competitive amidst signs of greater market volatility in 2019, said Malaysia Petroleum Resources Corporation (MPRC).
Deputy chief executive officer Mohd Yazid Ja’afar said while oil prices had risen since the beginning of the year, concerns about a supply glut and weakness in the global economy would keep prices on a tight leash, as evident from the general cautiousness of global oil companies and their continuous push for cost efficiencies.

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MRO players to gain from rising O&G activities

March 13, 2019

Note that the article is focussing on downstream activities, not us muck in the mud folks.

Dateline 2019-02-07, The Sun:

More of Malaysia’s oil and gas services and equipment (OGSE) companies are expected to set their sights on the downstream sector mainly in the maintenance, repair and overhaul (MRO) segment with the completion of Petronas’ Pengerang Integrated Complex (PIC) in southern Johor said Malaysia Petroleum Resources Corp (MPRC).
According to its “Top 100 OGSE Companies in Malaysia FY2017” report, while volatility of the oil price is expected to persist in 2019 global oil and gas development activities are expected to increase in the coming years, with operators aiming to move forward to develop new offshore fields, particularly those located in deep waters.

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MISC leads Malaysia Petroleum’s Top 100 list

March 12, 2019

Yea, MPRC is still around.

Dateline 2019-02-08, The Star:

MISC Bhd led Malaysia Petroleum Resources Corp’s (MPRC) latest list of Top 100 Malaysian oil and gas services and equipment (OGSE) companies, ranked in order of annual revenue for financial year 2017.
The list showed MISC edging out Sapura Energy Bhd, which was FY2016’s top ranked company. Dialog Group Bhd meanwhile has maintained its position at third place.
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MPRC to engage Sarawak, Petros on new O&G ruling

June 16, 2018

For the historical record.

Dateline 2018-04-24, The Malaysian Reserve:

Malaysia Petroleum Resources Corp (MPRC) will collaborate with the Sarawak state government on the latter’s move to assume control of its oil and gas (O&G) rights from Petroliam Nasional Bhd (Petronas).

MPRC stated it would also engage with the relevant parties including Petroleum Sarawak Bhd (Petros) on how local O&G service and equipment players are to proceed once the takeover move and new rulings come into effect on July 1 this year.

“We will update industry players once there is further clarity on the regulatory structure and how local O&G service and equipment companies could be impacted by the changes,” MPRC stated in its response to a query by The Malaysian Reserve (TMR) on the latest status of the move by the Sarawak state government.

Following prospective amendments to the Oil Mining Ordinance 1958 and Gas Distribution Ordinance 2016, companies involved in Sarawak’s O&G industry will be required to obtain the necessary licences and leases from the state government.

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Strive to remain competitive: MPRC

March 15, 2018

Dateline 2018-01-29, NST:

With the current temporary rise in the crude oil prices – strengthening since the start of 2018, it will be unlikely for the prices to revert to the heady days of USD$100 per barrel, evident from the cautious response of global oil companies.

As such, Malaysian Petroleum Resources Corporation (MPRC) chief executive officer Datuk Shahrol Halmi said Malaysia oil and gas services and equipment (OGSE) companies should not slow their momentum or lose focus on raising their competitiveness.

“To be more competitive, local OGSE companies should focus on providing economies of scale and integrated solutions,own technologies, employ quality talent, and possess export capabilities,” he said in media briefing recently.

The media briefing was held to share the latest MPRC100 rankings and industry analysis for the financial year ended 2016.

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MPRC’s Shahrol Halmi: Don’t be ‘overexcited’ about oil topping US$70

March 9, 2018

Yeah, pay us little fish at higher rates, then we can get excited together. And don’t swallow.

Dateline 2017-01-23,  The Edge:

Malaysia Petroleum Resources Corp Bhd (MPRC) said oil and gas (O&G) support service providers should not be “overexcited” about the recent rise in crude oil prices above US$70 a barrel. This is because prices of the commodity are still expected to be volatile.

MPRC, an agency reporting to the Prime Minister’s Department, was established to develop the O&G services and equipment (OGSE) industry in Malaysia. MPRC president Datuk Shahrol Halmi said OGSE companies should continue keeping an eye on efficiency in order to address cost while protecting profit margin through implementation of new technologies or integrated solutions.

“The interest in O&G companies is [returning] quite a bit, especially after the Petronas Activity Outlook (2018-2020 report) came out, and after Petronas contract awards recently. [But] the key point to note here is that one swallow does not make a spring.

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MPRC positive Malaysia to become OGSE hub

December 10, 2017

Dateline 2017-10-27, NST:

Despite tabling a fiscally prudent budget, the Government continues to prioritise and invest in critical capacity building initiatives for various industries.

With global oil and gas development activities expected to increase, following a couple of years of reduction spending, the export push set forth by the Government augurs well for the oil and gas services and equipment (OGSE) companies intending to capitalise on the pick-up in investment cycle.

With this, the Malaysia Petroleum Resources Corporation (MPRC) further said combined with a continuous push to attract OGSE multinational companies to establish Malaysia as their gateway to the region, the country is well on its way to becoming the number one hub in Asia Pacific for OGSE.

OGSE has a key role to play in the push towards becoming a high-income status nation.

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Malaysia on target to become regional oil and gas hub: MPRC

November 4, 2017

Can I be the asylum keeper?

Dateline 2017-09-11, NST:

Malaysia is set to become the oil and gas hub by year 2020 and is well on target towards becoming a regional hub within three years.

Malaysian Petroleum Resources Corporation (MPRC) said the country, deemed as one of the fastest growing economies in the Asia Pacific region and home to market-oriented economy and pro-business government policies, is also aims to ensure its local players to become regional players in the sector.

MPRC chief executive officer Datuk Shahrol Halmi said it is important to have Malaysia’s reputation at play to become a hub, and not just beating the drum claiming to be one.

“We also have strategies to ensure that we get there, and working hard to make sure it happens.

“It is crucial to attract the multinational companies (MNCs) to come to Malaysia and ensure that they make Malaysia as a regional base for the region.

“A hub is not just a hub. It brings other benefits to the Malaysian economy such as technology transfers, job opportunities and high-paying jobs as well,” Shahrol said in an exclusive interview with NST Business recently.

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