KUALA LUMPUR: The Malaysian International Chamber of Commerce & Industry’s (MICCI) Petroleum Production Sharing Contractors (PPSC) committee has strengthened its engagement with Petroliam Nasional Bhd (PETRONAS) to address issues affecting Malaysia’s upstream petroleum sector.
The PPSC committee recently held its annual engagement with PETRONAS through Malaysia Petroleum Management (MPM), bringing together representatives of upstream production sharing contractors to exchange views on industry developments and areas requiring closer coordination.
The meeting was attended by PETRONAS senior vice-president of MPM Datuk Bacho Pilong and leaders of petroleum production sharing contractors.
MICCI PPSC convenor Ben Kwa said continued engagement between the industry and regulator was important as the upstream petroleum sector operates in an increasingly complex environment.
“The upstream petroleum sector operates in an increasingly complex environment, making continued engagement between the industry and the regulator is important in fostering clarity and constructive collaboration.
“The PPSC provides a platform for members to raise matters affecting the sector, share industry perspectives and work with relevant stakeholders towards continuous improvement and mutual benefit,” he said.
The engagement covered operational and supply-chain preparedness amid geopolitical uncertainty, while highlighting the importance of sustained investment, capability development, safety and collaboration in maintaining Malaysia’s upstream competitiveness.
The committee said progress had been made across several areas, including fiscal and economic matters, procurement, exploration, decarbonisation, talent development and operations.
It added that regular engagement between industry stakeholders would help advance shared priorities, improve industry practices and strengthen local capabilities, including efforts to develop a sustainable talent pipeline for the upstream sector.
These collaborative efforts are contributing to shaping a competitive, resilient and sustainable upstream industry, while building the capabilities and talent needed to support Malaysia’s long-term energy aspirations.
Established in 1988 under MICCI, the PPSC comprises 24 upstream production sharing contractors, including operators and non-operators.
The committee serves as a platform for its members to promote common interests and engage with PETRONAS, government agencies and other stakeholders on matters affecting Malaysia’s upstream oil and gas sector.
The engagement also highlighted the positive progress achieved thus far across key areas, including fiscal and economics, procurement, exploration, decarbonisation, talent development, and operational matters.
