Malaysia-based energy and lubricant company Petronas recently hosted its latest Oil and Gas Services and Equipment (OGSE) Partners Day in Terengganu.
In addition to covering sustainability, the event’s sessions covered key areas like operational excellence, technology innovation, talent and capability development, and financing and growth. The last OGSE event was hosted in Kuala Lumpur in September. There were also exhibition booths at the event representing industrial, financial and government organisations.
In her speech, Rashidah Alias, a vice president at Petronas, said it was critical for OGSE partners to develop the local capabilities and talent in order to build on the country’s competitiveness as it navigates the energy transition. She said the gas and oil industry was at a key juncture:
“…where the landscape is defined by global challenges that cross borders. We urge Terengganu OGSE vendors to seek opportunities for innovation and growth. By prioritising capability building and upskilling, vendors can enhance their resilience and competitiveness, ensuring they are well-positioned to meet industry demands and drive sustainable growth.”
Petronas, which also makes products like agricultural oil and hydraulic oil, has committed itself to bolstering the OGSE sector in Malaysia, so it can compete in the global marketplace with emerging technologies as part of the energy transition. More specifically, it says it still aims to help Terengganu establish a robust OGSE ecosystem, and it operates a number of programmes to help its vendors. The Vendor Financing Programme (VFP), for example, has helped 54 companies based in Terengganu to secure more than RM 342 million in financing since 2018.
