Malaysia launches 10-year blueprint to revive oil and gas sector

May 24, 2021

Dateline 2021-04-27, Straits Times:

Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a “double whammy”.

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.

‘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.

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.

OGSE investments cross MPRC’S RM650m target

August 6, 2017

Dateline 2017-06-24, NST:

Malaysia Petroleum Resources Corporation (MPRC) has surpassed its target of RM650 million and brought in RM683.7 million worth of oil and gas services and equipment (OGSE) investments last year.

The governing body said it remained on track in its efforts to strengthen the OGSE industry in order to develop greater resilience and global competitiveness.

Last year, MPRC facilitated the establishment of regional headquarters for three OGSE multinational companies (MNCs) in Malaysia and assisted nine OGSE companies to bid for oil and gas (O&G) projects in six countries.

MPRC’s Corporate Report 2016, which was published on June 1, also highlighted the efforts to spur innovation and technology development across Malaysia’s OGSE supply chain.