Saturday, 17 May 2014

Malaysian oil, gas companies bag RM1.27b sales at US conference

Malaysian oil and gas small and medium enterprises (SMEs) and major O&G companies clinched RM1.27bil in sales at a US conference.

The Malaysia External Trade Development Corporation (Matrade) said on Friday the sales were generated from the 208 one-to-one business meetings which it had arranged at the Offshore Technology Conference in Houston from May 5-8.

"During the four-day exhibition, the Malaysian SMEs had generated an impressive amount of RM735mil of sales," said Matrade deputy chief executive officer Datuk Dzulkifli Mahmud.

He said the SMEs were led by Matrade, together with Malaysia Petroleum Resources Corporation (MPRC) and Malaysian major O&G companies.

The Malaysia pavilion at OTC Houston consisted of 25 companies and government agencies.

Dzulkifli said the sales were generated mostly in the services sector such as the cathodic protection system; offshore logistics; inspection services on pipelines and plants; intelligent pigging services; offshore support vessels; offshore drilling; and provision of hook-up, commissioning and topside maintenance services.

In the O&G products' sector, the sales were generated from carbon steel fittings & flanges; mechanical seals; fabrication of cabin modular / temporary living quarters; seamless steel pipes, casing & tubing; and production chemicals for the oil & gas industry.

"Despite the size of the Malaysian SMEs O&G companies; they are capable in finding their niche in OTC. These smaller companies should come together to form partnership among themselves in order to realise the economy of scale for them to be in the supply chain of the bigger player," he added.