Industry Development

As a key driver of Malaysia’s economy, the oil and gas industry has fostered a strong culture of technical excellence, entrepreneurial drive and innovation mind-set. Malaysia’s national oil company, PETRONAS, has over the years been instrumental in encouraging a steady growth in the number of local companies involved in oil and gas industry. Today, we have quite a matured oil and gas services and manufacturing sector across almost the entire value chain to support the needs of oil majors.

Malaysia Petroleum Resources Corporation (MPRC), which was formed as part of the government’s Economic Transformation Program (ETP) to help focus the efforts of the oil and gas services industry and grow the sector, was entrusted to form the Industry Consultative Council (ICC). The ICC acts as an advisory body where industry matters could be discussed and collaborative efforts pursued to further develop the industry towards making Malaysia as a regional oil and gas hub in the Asia Pacific region by 2017.

The ICC was formally launched by Minister in Prime Minister’s Department, Dato’ Sri Idris Jala at a simple ceremony on May 22, 2012, and was attended by industry luminaries and heads of government agencies. In his welcoming remarks, Dato’ Sri Idris commended industry players for coming together.

“The scope of work and responsibilities entrusted to the ICC and its members is very heavy. The competition that we are facing from other countries in the region is very real, very intense and moving very fast. We have to change our way of thinking and modus operandi. We need to innovate and give value. And we need to show that we are capable of delivering world class projects,” said Dato’ Sri Idris.

MPRC’s president and chief executive, Dr. Emir Mavani, called upon the ICC to address critical issues such as the shortage of skilled human capital, for the industry.

“The formation of the ICC is a valuable partnership between MPRC and oil and gas trade associations. By aligning our objectives, we can ensure a focused effort to drive the development of the oil and gas services sector. This is a very exciting time for the oil and gas industry in Malaysia, and we want to harness the capabilities, scale and resources of our oil and gas services companies to become regional and world class players,” said Dr. Emir.

It is with great hope that the industry at large will support forthcoming initiatives by ICC and the respective members’ trade associations, and help realise the nation’s vision of becoming a regional hub for oil and gas by 2017.

Composition

Council members of ICC are made up of presidents of five main trade associations and chaired by MPRC. These five associations whose members are mainly from the oil and gas industry are Malaysian oil and gas Engineering Council (MOGEC), Malaysian oil and gas Services Council (MOGSC), Malaysian Offshore Vessels owners Association (MOSVA), Malaysian Offshore Constructors Association (MOCA) and Institute of Materials Management (IMM).