Oil and gas services and equipment industry is expected to contribute between RM40 billion and RM50 billion to Malaysia’s gross domestic product by 2030. — Reuters file picKUALA LUMPUR, April 27 — The oil and gas services and equipment industry is expected to contribute between RM40 billion and RM50 billion to the country’s gross domestic product by 2030 from RM20 billion last year, said Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed today.
“The National OGSE Industry Blueprint 2021-2030 aims to provide direction for OGSE companies to improve their competitiveness, efficiency and technological capabilities. Malaysia Petroleum Resources Corporation , supported and guided by the Economic Planning Unit in the Prime Minister’s Department, has been working closely with different ministries, government agencies, Petronas and industry associations in the last 10 months to develop the blueprint.
MPRC also introduced a RM25 million oil and gas, services and equipment development grant OGSE small and medium enterprises as well as mid-tier companies to enhance their competitiveness through innovation in technology and help accelerate their move towards commercialisation and exports.