Southeast Asia has around 412 active offshore fields with ongoing field development activities and Malaysia has the maximum offshore projects and accounts for a large portion of the regional Capital Expenditure (CAPEX).
Faced with maturing oil fields, declining domestic production and a finite fuel source in the face of accelerated economic growth, the main challenge for energy suppliers is not just the availability of alternative energy supply but also the commercial potential of these resources.
In the past decade, Malaysia’s Oil, Gas and Energy (OGE) industry has been contributing about one-fifth to the national GDP (Gross Domestic Product). As part of the Economic Transformation Programme (ETP) that will propel Malaysia forward into a truly developed nation, the OGE sector is targeting 5 percent annual growth until 2020.
To sustain and increase oil & gas production, the focus is on deepwater exploration and EOR of mature fields with Malaysia generating big potential as a regional EOR hub. Hence, it is crucial that Malaysia continues to highlight its oil and gas potential while staying up-to-date with the latest innovations and technology to strengthen its position.
Oil & Gas Asia 2019 happening from 18 – 20 June 2019 at the Kuala Lumpur Convention Centre will be a crucial platform for Oil & Gas technology suppliers to tap into the lucrative business opportunities that exist in this dynamic regional market.
Mark your calendar for OGA 2019 scheduled from 18th to 20th June 2019 at Kuala Lumpur Convention Centre, Malaysia!