Malaysia Petroleum Resources to launch service for OGSE players in 4Q

KUALA LUMPUR: Malaysia Petroleum Resources Corporation (MPRC) will launch its facilitation service for strategic partnerships among oil and gas services and equipment (OGSE) players in the fourth quarter (4Q) of 2024 to further drive the creation of value within the sector.

President and chief executive officer Mohd Yazid Ja'afar said this will enhance the resilience of OGSE companies to prepare them for more open and dynamic markets.

"Having launched the National OGSE Sustainability (NOS) Plans in 2022, we will next launch the NOS roadmap and conclude it with the NOS framework.

"We call on the captains of the OGSE sector to explore and consider embracing these documents as a guide to help them navigate the demands of the energy transition," he said during the OGSE100 CEOs Forum held at Bursa Malaysia today.

Also present at the event were Economy Minister Rafizi Ramli and Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift.

Mohd Yazid said MPRC is also conducting a midterm review (MTR) of the OGSE Blueprint to ensure its continued relevance and alignment with national priorities and sector trends.

"We look forward to launching the OGSE Blueprint MTR next year," he added

Meanwhile, Muhamad Umar said the OGSE industry plays a pivotal role in the economic prosperity of Malaysia and its transition toward a sustainable future.

"As at the end of last year, there were 23 public listed companies (PLCs) in Bursa Malaysia from the OGSE sector. Revenue from these PLCs represent almost 70 per cent of the total revenue from the top 100 OGSE companies," he said. - Bernama

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