OGSE industry to contribute up to RM50bil to GDP by 2030


KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry is expected to contribute between RM40 billion and RM50 billion to the country’s gross domestic product by 2030 from RM20 billion last year, said Minister in the Prime Minister's Department Datuk Seri Mustapa Mohamed today.

He said the higher contribution by the sector would be driven by the implementation of initiatives under the National OGSE Industry Blueprint 2021-2030.

"The National OGSE Industry Blueprint 2021-2030 aims to provide direction for OGSE companies to improve their competitiveness, efficiency and technological capabilities.

"We must ensure that the growth of the sector is achieved in a sustainable manner without greater costs to future generations, through innovation and advancement in low-carbon technologies," he said in his keynote address during the launch of the blueprint here, today. - Bernama

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