SIXTEEN Malaysian companies from the oil and gas industry including small and medium enterprises (SMEs) and large corporations such as Petronas took part in the Offshore Technology Conference (OTC) 2017 in Houston, the US.
Their participation was coordinated by Malaysia External Trade Development Corporation (Matrade), in collaboration with Malaysia Petroleum Resources Corporation (MPRC).
The oil and gas trade exhibition, which attracted more than 80,000 industry leaders and experts around the globe, served as a platform for these companies to showcase their capabilities and innovation to potential business partners.
At the event, the Malaysia Pavilion highlighted the theme “Choose Malaysia: Your Oil & Gas Partner in Asia”, promoting products and services such as fittings and flanges, drilling equipment, heat recovery systems, fabrication and repair services, health, safety and environmental consulting services, freight and logistics services, third-party engineering inspection and non-destructive testing services.
In a press statement, Matrade chief executive officer Dr Mohd Shahreen Zainooreen Madros said in order to be successful in the highly competitive industry, Malaysian companies were encouraged to produce innovative products, services and technology that could add value.
“Despite the decline in oil prices in the past few years, Matrade and MPRC believe that with the capabilities of our companies, Malaysia can maintain its global competitiveness in the oil and gas industry.
“The Malaysian government will continue to push and give full assistance to bring Malaysia’s oil and gas technology and expertise to the world,” said Shahreen, who led the Malaysian delegation.
MPRC Trade and Investment vice-president Ahmad Azwan Ahmad Shukor said their key focus areas were to promote Malaysian capabilities in international markets.
“This is in addition to enhancing the country’s position as the preferred hub for oil and gas, and services and equipment (OGSE) activities in Asia Pacific.
“A conference like OTC Houston is an effective platform for Malaysian OGSE firms to gain exposure, develop strategic partnerships with foreign OGSE companies and MNCs, and assist in potential business ventures in Asia Pacific,” he said.
Additionally, Petronas’ participation comes as Malaysia gears up to host the 2018 edition of OTC Asia, the region’s anchor oil and gas technology conference.
To kick off promotional activities for OTC Asia 2018 which will be its third instalment, the biennial conference and exhibition was launched by Petronas Project Delivery and Technology senior vice-president Mazuin Ismail during OTC Houston 2017.
In 2016, Malaysia’s exports of oil and gas products to the US were valued at more than RM528mil (US$122.1mil), an increase of 53.8% from 2015.
The major products exported were crude petroleum oils, fuel oils and jet fuel; while other oil and gas related products included pipe fittings, tubes, hoses, valves and wellhead christmas tree amounted to about RM676mil (USD156.2mil).
Local companies in the oil and gas sector keen to explore the US market can email Matrade at firstname.lastname@example.org for details.