MOGSEC targets deals worth RM400m this year
KUALA LUMPUR: The Malaysia Oil and Gas Services Exhibition and Conference (MOGSEC) 2018 aims to clinch RM400 million worth of deals from business matching, compared with RM300 million in the last edition two years ago.
Malaysian Oil and Gas Services Council (MOGSC) president Sharifah Zaida Nurlisha said the council expected higher transactions during the exhibition as the global oil and gas (O&G) continued its recovery, with upstream companies ramping up production.
She said 350 exhibitors would participate in the MOGSEC 2018, with 60 per cent from small and medium enterprises (SMEs).
Sharifah said the event was aimed at providing local O&G players, especially SMEs, a platform to seek business opportunities and expand their reach globally.
“Local O&G services companies are more viable and have the expertise to compete and carry out projects overseas.
“Participating in MOGSEC 2018 gives them the opportunity to gain more exposure from foreign and domestic players, and build a wider industry network.
“Malaysia continues to be one of the fastest growing economies in Asia Pacific, and our O&G sector has created opportunities for businesses in the O&G services sector.
“In this climate, Malaysia’s O&G services and equipment (OGSE) companies must continue to maintain momentum and increase their competitiveness, as there are many opportunities around the corner.
“This is one of the primary reasons why we established the MOGSEC platform. This year’s theme, ‘Catalysing Regional Growth in Oil and Gas’, signifies the need for Malaysian OGSE players to actively explore and develop synergistic partnerships and collaborations across the value chain, both locally and internationally, to further stimulate the O&G industry in Malaysia,” she said in an interview recently.
Scheduled from today until Thursday at the Kuala Lumpur Convention Centre, notable exhibitors include top stakeholder Petroliam Nasional Bhd (Petronas) and major players, such as Bureau Veritas Group, Draeger, Geveke Oil & Gas, MMC Oil & Gas Engineering, Sapura Energy Bhd and Velesto Energy Bhd, as well as the MOGSC SME Pavilion and Sabah and Sarawak Pavilions.
Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin is scheduled to officiate at the opening ceremony of MOGSEC 2018 today.
According to United Business Media Malaysia country general manager Alun Jones, the organiser of MOGSEC 2018, the event would not only showcase Malaysia as a regional O&G hub and local O&G service providers’ expertise, but also highlight the industry’s best practices and open up numerous business opportunities.
He said MOGSEC 2018 was expected to attract about 7,000 trade visitors, who would make their way here to forge new business leads and strengthen partnerships, in the hopes of growing and strengthening their operations and service offerings in Malaysia.
As one of the exhibitors, Velesto president Rohaizad Darus said the company was confident that MOGSEC 2018 could play its role as a driver for the O&G service industry in exploring more opportunities.
Velesto was formerly known as UMW Oil & Gas Corp Bhd.
“It is also important in helping SMEs to build more business networks and explore more new technologies,” he said.