Matrade O&G Mission Generates RM1.45 Bln Potential Export Sales

KUALA LUMPUR, Sept 1 (Bernama) -- A specialised mission for the oil and gas (o&g) sector to Indonesia and Timor-Leste last month has generated RM1.45 billion (US$1=RM4.15) of potential export sales, Malaysia External Trade Development Corporation (Matrade) said. In a statement, Matrade Director of O&G and Chemical Section Abu Bakar Koyakutty, who led the four-day visit from Aug 10, said the potential exports were mainly from the services for regasification, tank farms and fabrication works. "The supply deals comprise mechanical seals, engineering consultancy, front-end engineering and design (feed) works, lubes for drilling mud, habitat and H2S safety services as well as pipeline construction inspection services. They are being ironed out between Malaysian companies and foreign buyers. "The oil and gas industry is still in a recovery stage from weakening oil price and a lot of buyers are looking for competitively priced alternative supplies which Malaysia can provide," he said. Organised for the first time by Matrade in collaboration with Malaysia Petroleum Resources Corporation, the mission met its objectives in exploring export opportunities in Indonesia and Timor-Leste. The initiative helped further strengthen bilateral relations between Malaysia and both countries, according to Matrade. The delegation comprised 10 manufacturers and service providers in the o&g sector, mainly small and medium enterprises. During the 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 and 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 o&g products and services, each delegate was given the opportunity to present their capabilities and expertise to the key stakeholders. As the national trade promotion agency, Matrade will continue to promote Malaysia’s o&g players globally and provide a platform for export-ready SMEs to tap opportunities in the sector globally. This visit will be complemented by Matrade’s specialised o&g missions to other countries such as Myanmar, Kuwait, the UAE, Saudi Arabia and Vietnam. Matrade will also continue its Global Sourcing Programme (GSP) with o&g multinational companies. A GSP with Baker Hughes will be held at Menara Matrade here on Sept 29. For more information on the event, please contact Matrade’s Oil & Gas and Chemical Section at 03-6207 7682 or email to communication@Matrade.gov.my. -- BERNAMA