AGEX seen generating RM310mil sales

  • Business
  • Wednesday, 26 Sep 2012

Raja Nong Chik: ‘Labuan is seen as the leading oil and gas hub in Asia.’

KUALA LUMPUR: The three-day Asean Oil & Gas Expo 2012 (AGEX 2012) is expected to generate sales of US$100mil (RM310mil), compared with about US$80mil last year.

“In the past AGEX 2011, we have transacted more than US$80mil throughout the three-day event,” according to event organiser Fireworks Trade Media managing director Jerel Soo. This year, he said the event was expected to attracted some 6,000 local and international visitors.

Also present at the pre-event press conference yesterday are Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin, Labuan Shipyard & Engineering Sdn Bhd CEO Mohd Azman Nasir and Malaysia Petroleum Resources Corp CEO Dr Emir Mavani.

The event, to be held from Oct 30 - Nov 1 at the Financial Park Labuan Convention Centre is jointly organised by Fireworks, Labuan Authority and Asian Supply Base to explore new oil and gas business opportunities and to penetrate emerging markets in Labuan.

A special conference entitled “Building Labuan as an International Oil and Gas Logistic Hub” will also be held concurrently. Additionally, a high-powered “Borneo perspective on the world oil and gas, marine industry” conference would be organised to understand the opportunities, trends and development in emerging markets.

Raja Nong Chik said Labuan had all the potential to become an oil and gas hub but it lacked promotion. “Labuan is seen as the leading oil and gas hub in Asia.

“This hub is expected to bring positive changes to the country’s oil and gas industry as per the initiatives under the Government’s Economic Transformation Programme (ETP),” he said.

He said there were many projects which were following through to put Labuan on the map as the oil and gas hub in Asia, and this contributed to the merging of many possible business opportunities and increasing economic growth within the region.

“Sabah’s key deepwater fields, the New Sabah Oil & Gas Terminal Project at Kimanis, the tax exemption, the major oil and gas companies in Labuan, the enviable and strategic location of the hub – all these attributes makes Labuan the ideal place with a huge opportunity for oil and gas growth,” Raja Nong Chik said.

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