Emerging Opportunities For Malaysian O&G Companies In Caspian Region

KUALA LUMPUR, Dec 20 (Bernama) -- A Malaysian oil and gas (O&G) delegation that visited Turkmenistan and Uzbekistan last month will collaborate with their counterparts in the two countries to jointly explore the emerging potential of O&G opportunities in the Caspian region. The 15-member delegation led by the Malaysia External Trade Development Corporation (MATRADE), held one-on-one business meetings with Turkmen and Uzbek O&G companies as well as the two countries' respective national oil companies -- TurkmenGas and Uzbekneftegaz. In a statement today, MATRADE said sales of RM0.77 million were generated during the 10-day mission from Nov 12 while an additional RM50.14 million in potential sales. "Malaysian products and services that garnered interest from the Central Asian companies were the supply of gaskets, Gas-to-Liquid (GTL) synthetic products, wellheads and christmas trees, well control panels, Supervisory Control and Data Acquisition and Automation (SCADA) and drilling waste management services," MATRADE said. Turkmenistan has the world's fourth largest gas reserves. Its government is currently implementing a long-term plan for the development of its O&G industry until 2030. Uzbekistan ranks 12th in the world in the production of natural gas with 60 percent of its territory holding the potential for O&G development. Its government expects O&G projects in the country to receive US$15.3 billion investments. Uzbekneftegaz runs 78 investment projects worth US$28.6 billion, while there are currently 41 projects worth about US$9.2 billion under development in Uzbekistan. (US$1=RM3.18) -- BERNAMA Malaysia