MATRADE Explores Export Opportunities in The Oil and Gas Sector

SATURDAY, 29 APRIL 2017, KUALA LUMPUR: For the six consecutive years, Malaysia External Trade Development Corporation (MATRADE) in collaboration with Malaysia Petroleum Resources Corporation (MPRC) will coordinate the participation of Malaysian companies at the Offshore Technology Conference (OTC) 2017 in Houston, USA from 1 to 4 May 2017.

This year, 16 Malaysian companies from the oil and gas sector comprising mostly small and medium enterprises (SMEs) and large corporations including PETRONAS will be participating in the largest oil and gas trade exhibition, expected to attract over 80,000 oil and gas leaders and experts from around the world. The objective of Malaysian company's participation is to showcase capabilities and innovation as well as to look for global business partners among the attendees from nearly 40 countries. Malaysia Pavilion will highlight the theme of "Choose Malaysia: Your Oil & Gas Partner in Asia" in OTC Houston 2017.

Among the products and services being promoted include fittings & flanges, drilling equipment, heat recovery systems, fabrication & repair services, health, safety and environmental consulting services, freight and logistics services, third party engineering inspection and non-destructive testing services.

"Malaysian companies are encouraged to come out with high innovative products, services and technology that can add value in order to be successful in the highly competitive industry especially in the current persistent environment of low-priced oil," said Ir. Dr. Mohd Shahreen, Chief Executive Officer (CEO) of MATRADE.

Ir. Dr. Mohd Shahreen who is leading the Malaysian delegation added "Despite the decline in oil prices for 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. Malaysian government will continue to push and give full assistance to bring Malaysia's oil & gas technology and expertise to the world."

MPRC's Vice President for Trade and Investment, Ahmad Azwan Ahmad Shukor stated that "One of our key focus areas is to promote Malaysian capabilities in international markets, in addition to enhancing Malaysia's position as the preferred hub for Oil & Gas, 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."

PETRONAS' participation comes as Malaysia is gearing 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 is in its 3rd edition, the biennial conference and exhibition will be officiated by PETRONAS' Senior Vice President for Project Delivery and Technology, Mazuin Ismail during OTC Houston 2017.

In 2016, Malaysia's total trade to the United States of America (USA) valued at US$32.78 billion where exports stood at US$19.36 billion and imports, US$13.42 billion. Malaysia's exports of oil & gas products to the USA were valued at US$122.1 million, an increase of 53.8% over 2015. The major products exported were crude petroleum oils, fuel oils and jet-fuel. Other oil & gas related products exported includes pipe fittings, tubes, hoses, valves and wellhead christmas tree amounted to US$156.2 million.

Local companies in the oil and gas sector keen to explore the US market can contact MATRADE's offices in New York, Los Angeles and Miami at newyork@matrade.gov.my, losangeles@matrade.gov.my, miami@matrade.gov.my or they could email to info@matrade.gov.my for more details.

Updated by Strategic Communications Unit

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