Oil, Gas and Energy
Sectors

EPP 6: Encouraging Investments in the Oil & Gas Services and Equipment (OGSE) Industry

  • GNI by 2020 (mil)
    RM6,124.80
  • Projected jobs by 2020
    20,000

EPP 6.0 - Attracting MNCs to Bring Their Global Oil Field Services and Equipment Operations to Malaysia

As part of Malaysia’s plan to enhance upstream and downstream activities, and transform Malaysia into an Asia-Pacific hub for OGSE activities, this EPP focuses on attracting international technology-based firms to use Malaysia as base for regional operations as well as encouraging domestic direct investments to acquire proprietary technology and capital intensive assets.

Highlights

  • Capital expenditure by local firms have risen during the year, with Perisai Petroleum Teknologi Bhd acquiring a second jack-up drilling rig for RM642.72 million; KKB Engineering Bhd expanding fabrication capabilities to meet growing demands of the oil and gas sector, and UMW Oil & Gas Bhd acquiring Naga-4 jack-up drilling rig for RM691 million.
  • TH Heavy Engineering and McDermott International Inc formalised joint-venture agreement via share-swap between McDermott’s locally incorporated Berlian McDermott Sdn Bhd and TH Fabricators Sdn Bhd.
  • Malaysia, through the Malaysian Petroleum Resources Corporation, won exclusive rights to host the inaugural Offshore Technology Conference in Kuala Lumpur in 2014 and 2016.
2015/08/06
EPP Champions

Status:
Operational
Economic Transformation Programme
The ETP Transformation Story
The Economic Transformation Programme (ETP) is a comprehensive effort that will transform Malaysia into a high-income nation by 2020.
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