KUALA LUMPUR: Malaysia’s oil and gas services and equipment (OGSE) sector must evolve from being capable suppliers into globally competitive players, said the Malaysia Petroleum Resources Corporation (MPRC).
Its president and chief executive officer Mohd Yazid Ja'afar said the next phase of OGSE growth requires collaboration beyond Malaysia to create new opportunities for partnerships and strengthen regional and global supply chains.
"Though important, and rightly so, the Malaysian market cannot be the ceiling for Malaysian OGSE. The next phase of growth for Malaysian OGSE cannot depend only on the Malaysian market.
"Across ASEAN and beyond, new opportunities are emerging - in conventional oil and gas, gas infrastructure, carbon management, digitalisation and the broader energy transition," he said in a special address at the Oil & Gas Asia (OGA) 2026 opening ceremony here today.
The event was officiated by Petroliam Nasional Bhd (Petronas) president and group chief executive officer Tan Sri Tengku Muhammad Taufik, alongside organiser Informa Markets Malaysia chairman Tan Sri Abdul Rahman Mamat.
Mohd Yazid also urged OGSE industry players to accelerate digitalisation, stressing that it must move beyond being an efficiency programme and become a key source of competitive advantage.
He also said the sector must invest in future-ready talent as the industry will require new skills, new capabilities and new ways of working.
"We also must strengthen sustainability as low-carbon capability is increasingly becoming part of the competitive equation, not simply a compliance requirement.
"Our OGSE must be able to serve the energy demand of today while building the capabilities required for tomorrow," he said.
Furthermore, he said the OGSE sector should not fear the energy transition but embrace it, as the shift will create new markets, technologies and demand for new capabilities.
"As your National OGSE Development Partner, MPRC stands ready to support companies that are serious about growth - through strategic government engagement, market intelligence and targeted programmes to help Malaysian companies compete both at home and abroad," he added.
MPRC is an agency under the Ministry of Economy responsible for advancing Malaysia’s OGSE industry. - Bernama
