KUALA LUMPUR, Feb 9 — The oil and gas, services and equipment (OGSE) industry should accelerate its efforts towards energy transition in line with the rising prominence of environmental sustainability, said Economy Minister Rafizi Ramli.
In a statement released by the Malaysia Petroleum Resources Corporation (MPRC) today, he said national and international priorities were moving quite quickly towards low-carbon principles to address climate change, and this has created wider opportunities for the OGSE industry in other cleaner types of energy.
“We will need to ensure our OGSE players are geared towards the pivot, and I suggest that more initiatives are incorporated into the OGSE Blueprint from this year,” Rafizi said while chairing the Third Steering Committee meeting of the National OGSE Industry Blueprint (OGSE Blueprint) 2021 – 2030 implementation today.
The OGSE Blueprint initiatives will pave the way for OGSE companies to thrive in the future by elevating their capabilities to provide support services amid the energy transition, including strengthening their sustainability and capacity to move into adjacent industries beyond traditional oil and gas businesses.
He also commended the significant progress made in the OGSE Blueprint implementation over the past year.
The blueprint, which was launched in April 2021, has resulted in several key achievements in 2022, including RM10 million committed to 42 OGSE small and medium enterprises for the OGSE Development Grant.
Rafizi said that five new initiatives are expected to start in 2023, covering market access, financing and OGSE talent development.
Meanwhile, MPRC chief executive officer and president Mohd Yazid Ja’afar said the talent development initiatives expected to start in 2023 would equip workers and graduate engineers with the skills they need to navigate the realities shaping the future of OGSE and energy in Malaysia and beyond.
MPRC is a custodian of the OGSE Blueprint.
— Bernama
