Malaysia: Bringing Together National Expertise
The Offshore Engineering Asia conference, which brought together leading industry voices in the Malaysian oil and gas sector, took place over three days in late November 2014. The event coincided with a seminal year for Malaysia’s oil & gas sector. With Petronas celebrating its 40th anniversary, the country is continuing to forge its identity as an oil and gas hub for the region. Alongside Petronas, Malaysia’s homegrown service industry has continued to expand, consolidate and internationalize, while many large MNCs have chosen Malaysia as a regional hub for. Upstream developments abound with marginal field exploration, EOR projects coming online and deeper waters being explored. The RAPID project is moving forward to meet the country’s ambition of playing a larger role in downstream and become a regional oil storage, trading, and development hub.
YBhg. Datuk Ir. Dr. A. Rahim Hj Hashim, Vice Chancellor of the Universiti Teknologi Petronas (UTP), gave the opening note of the conference, providing an overview of recent developments in the oil & gas sector that may impact Malaysia from increased M&A activity, EOR, marginal field development and deep water explorations. Furthermore, he detailed industry-wide initiatives, involving both universities like the UTP and industry groupings such as MOGSC and MOGEC that build local industry capacity.
YBhg. Datuk Ir Ahmad Fauzi Bin Hasan’s special address on behalf of the Energy Commission discussed the country’s energy mix and the push to improve both the efficiency and effectiveness of Malaysia’s energy sector, while Dr Mohd Shahreen Zainooreen Madros, Executive Director of the Malaysian Petroleum Resources Corporation, described the MPRC’s mandate since its creation in 2012 and the pivotal role of oil and gas in the nation’s Economic Transformation Program. He alluded to efforts by all actors in the industry to collaborate and solve problems as an oil and gas hub.
YBhg. Datuk N. Rajendran of MIDA touched upon the impressive growth of the local oil and gas sector, especially in terms of local SMIs and SMEs. The number of oil and gas companies in Malaysia registered with Petronas now reaches over 5000. Collaboration between these actors is key and is slated to receive a boost from ASEAN.
Conference plenary discussions revolved around transforming Malaysia into the Asian oil and gas powerhouse, deepwater offshore oil and gas developments in ASEAN, FPSOs and upcoming demand for decommissioning. Sponsors of the event included multinations such as Halliburton and Wood Group Kenny, as well as local success stories Bumi Armada and IEV Group.
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