Global
KUALA LUMPUR, 24 April 2026 – PETRONAS reaffirmed the importance of strengthening resilience, competitiveness and execution capability across Malaysia’s oil and gas service and equipment (OGSE) ecosystem at its OGSE Partners Day, held today at the Kuala Lumpur Convention Centre.
Themed “Empowering Resilience”, the event brought together more than 800 participants, including vendors, association representatives, production sharing contractors, financial institutions and government agencies.
In his keynote address, Datuk Ir. Bacho Pilong, Senior Vice President of Malaysia Petroleum Management PETRONAS highlighted that the programme today aims to demonstrate a future-ready and resilient OGSE ecosystem that is financially sound, technologically capable, talent ready and governed with integrity.
“The key areas of focus – from sustainability and digital operations to finance and talent development – are interconnected. Transformation does not happen in silos. It happens when technology, talent, capital and governance move forward together,” he said.
The event featured a series of panel sessions exploring pathways to enhance operational efficiency, strengthen governance, and accelerate capability development across the supply chain. Discussions covered technology adoption, talent development and financing solutions, alongside the importance of deeper collaboration across the OGSE value chain.
Panelists included representatives from the Malaysia Petroleum Resources Corporation (MPRC) and the Malaysian Oil, Gas and Energy Services Council (MOGSC), who shared perspectives on market volatility, global competition, sustainability requirements, technological shifts and evolving policy expectations. These discussions are aligned with the National OGSE Industry Blueprint 2021-2030, which aims to strengthen the regional competitiveness of Malaysian OGSE companies.
PETRONAS also formalised a Memorandum of Understanding (MoU) for its Sustainable Vendor Financing Programme with Alliance Bank Malaysia Berhad, Bank Islam Malaysia Berhad, UOB Malaysia, RHB Bank Berhad and Malaysian Industrial Development Finance Berhad (MIDF). Launched last year, the programme enhances vendors’ access to sustainable financing by leveraging sustainability disclosures, enabling them to tap into Bank Negara Malaysia’s financing facilities, including the Low Carbon Transition Facility (LCTF) and High Tech and Green Facility (HTG) and MIDF’s Sustainable & Green Biz Financing (SGBF). This initiative is aimed at supporting PETRONAS vendors in adopting more sustainable practices across their operations.
The OGSE industry remains a key pillar in Malaysia’s economy, contributing between five to eight per cent to national Gross Domestic Product (GDP) and supporting more than 123,000 jobs nationwide.
As a progressive energy and solutions partner, PETRONAS is committed to driving sustainable and inclusive growth by working closely with industry partners to strengthen ecosystem capabilities and foster a resilient, capable and competitive industry for the future.
