Malaysian Oil & Gas Companies Remain Relevant in The Global O&G Industry
FRIDAY, NOVEMBER 26, 2021, KUALA LUMPUR: Malaysian oil and gas (O&G) companies continue to perform well internationally as proven by the latest success in the recently concluded Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2021 trade fair.
This is because the 16 Malaysian oil and gas (O&G) companies that represented Malaysia under the Malaysian Pavilion organised by Malaysia External Trade Development Corporation (MATRADE) concluded deals exceeding US$100 million despite the ongoing pandemic.
This is the seventh time that MATRADE, which is Malaysia’s national trade promotion agency, has organised the national pavilion in ADIPEC. The trade fair which is one of the largest O&G related trade fair in the world was held from 15 - 18 November 2021.
Eight out of the 16 companies were participating for the first time in this trade fair. The companies were involved in a total of 302 business meetings included those pre-arranged by MATRADE which resulted in RM447.13 million (USD106.46 million) of export potential sales. Three of the companies secured actual sales worth RM112.54 million (US$26.8 million) through new projects and partners in the Middle East North Africa (MENA) region.
According to S.Jai Shankar, Director of O&G, Chemical and Energy at MATRADE, the buyers’ interest centered on many of the areas where Malaysian O&G companies have strength in such as fabrication of oil & gas process equipment, engineering services, mechanical services, engineering solutions, explosion protection compliance services, Health, Safety and Environment (HSE) solutions as well as, pipeline inspection and cleaning services.
The exhibition provided opportunities for buyers and sellers to meet, learn, network and discover new products, solutions and technologies from over 2,000 exhibiting companies, which includes over 51 National Oil Companies (NOC), International Oil Companies (OIC) and Energy Industries Council (IEC) as well as 26 international country pavilions, providing a world-class environment for trade across the industry’s full value chain.
As such MATRADE also organised meetings for the companies to meet national oil companies in the region such as Abu Dhabi National Oil Company (ADNOC), Bahrain Petroleum Company (BAPCO) and Saudi Arabian Oil Company (Saudi Aramco). MATRADE also held meetings with strategic partners such as African Energy Chamber.
MATRADE will continue to support and encourage Malaysian oil & gas companies to expand their business activities not only in MENA region but also to other parts of the world.
