MATRADE O&G Mission Highlights Opportunities in Indonesia’s & Timor-Leste’s Markets
TUESDAY, 1 SEPTEMBER, 2015, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) in collaboration with the Malaysia Petroleum Resources Corporation (MPRC) concluded a two-legged specialised mission for the oil & gas sector to Indonesia and Timor-Leste from 10 – 14 August 2015. Organised for the first time, the mission had met its objectives in exploring the export opportunities in Indonesia and Timor-Leste. The initiative helps to further strengthen existing bilateral relationship between Malaysia and both countries.
The mission delegation comprised 10 manufacturers and service providers in the oil & gas sector, mainly Small & Medium Enterprises. During the four-day mission, MATRADE arranged over 70 one-to-one business meetings for the Malaysian participants in Jakarta and Dili. The mission’s delegates were also given the opportunity to meet and discuss with both countries’ key stakeholders such as the Indonesia Coordinating Investment Board, the Ministry of Energy & Mineral Resources Indonesia, SKK Migas, BPH Migas, National Petroleum Authority (ANP), and Timor Gap E.P.
Aimed at creating greater awareness and visibility on Malaysia’s capabilities in providing world-class oil & gas products and services, each delegate was given an opportunity to present their capabilities and expertise to the key stakeholders.
MATRADE’s Director of Oil & Gas and Chemical Section, Abu Bakar Koyakutty who led the delegation said, “The oil & gas industry is still in a recovery stage (from the current weakening oil price situation) and a lot of buyers are looking for competitively priced alternative supplies and Malaysia can provide this. This led to the mission generating RM1.45 billion of potential export sales.
Abu Bakar further explained, the potential exports were mainly from the services for regasification, tank farms and fabrication works. The supply deals are currently being ironed out between Malaysian companies and the foreign buyers and they comprised Mechanical Seals, engineering consultancy, Front-End Engineering & Design (FEED) Works, lubes for drilling mud, habitat and H2S safety services as well as pipeline construction inspection services.
According to one of the participants, Clifton George O'Keeffe from Oilfield Technical Inspection Sdn Bhd, "Our company has gained invaluable insights into the Indonesian and Timor-Leste oil & gas industry from this event. We realised that there are vast opportunities in Indonesia especially when its government is planning to improve its power distribution throughout the country, focusing in the eastern region,” he said.
“For Timor-Leste, the development of the Southern Corridor promises a vibrant oil & gas industry in the future. The mission has helped our company to better understand the business culture of both countries and has also widened our contacts with relevant government agencies and the local oil & gas business community,” he added.
Dr Ragunath Bharath from Innovative Fluid Process Sdn Bhd shared, "Indonesia is a huge market and has plenty of MNCs who are service providers while the local service providers are still being groomed. As for Timor-Leste, it is a market with an abundance of potential and future developments. We are interested in Timor-Leste market, particularly in the storage terminal and mini refinery projects. During the mission, we have met potential partners from both countries."
As the national trade promotion agency, MATRADE will continue to promote Malaysia’s oil & gas players globally and provide a platform for the export-ready SMEs to tap on the opportunities in the world’s oil & gas sector.
Complementing this mission are MATRADE’s other future events namely specialised missions for the oil & gas sector to countries such as Myanmar, Kuwait, the UAE, Saudi Arabia and Vietnam. MATRADE will also continue its Global Sourcing Programme (GSP) with the MNCs of the oil & gas sector. Come 29 September 2015, a GSP with Baker Hughes will be held at Menara MATRADE, Kuala Lumpur. For more information on the event, please contact MATRADE’s Oil & Gas and Chemical Section at 03-6207 7682 or email to This email address is being protected from spambots. You need JavaScript enabled to view it..
