Malaysian Oil & Gas Products and Services Tapping Into the Lucrative Middle East Market

Dubai, UAE, November 11, 2018:   MATRADE continues to create greater awareness and visibility on Malaysia's capabilities and expertise in providing world class  oil & gas products and services through participation in ADIPEC 2018. This year will be MATRADE's fifth participation in this annual largest oil & gas exhibition in Middle East which will take place from 12 – 15 November 2018.

MATRADE's trade office in Dubai coordinates participation from seventeen Malaysian companies that will be showcasing various oil & gas products and services.  Among the local expertise to be featured include radiation management and consultancy services to the oil and gas, and mineral processing industries, specialist engineering of well integrity & rehabilitation, fabricate DNV offshore container/portable offshore unit intended for oil and gas industry, design and manufacture of Waste Heat Recovery Unit (WHRU), oil & gas upstream exploration & production consultancy services, manufacturing of Perlite Insulation Material and ICT Solutions for oil & gas Health Safety Environment (HSE), Human Resource (HR) and Operation requirements. Others are manufacturer, stockists and trader of pipes, fittings, flanges, valves, and other components, installation, commissioning, calibration and maintenance and trading of engineering work & equipment.

Three of the seven emirates have launched licensing rounds in 2018, offering substantial discovered and prospective oil & gas resources as reported by Fitch Solutions. These prospects for exploration are improving markedly, as the emirates look to garner increased foreign and private participation in the sector. The Abu Dhabi National Oil Company (ADNOC) will significantly expand its refining and petrochemical operations at Ruwais and undertake highly targeted overseas investments to secure greater market access. Furthermore, the rise of potential oil & gas industry in Africa region will offer additional opportunities to the oil & gas industry. Africa continues to show substantial growth with new hydrocarbon provinces developing at a significant pace. MATRADE, as Malaysia's trade promotion agency, has identified numerous exports opportunities for Malaysian companies through these forecasts.

According to Mr. Wan Azhamuddin Jusoh, Deputy Director of Oil & Gas, Chemical and Energy Section at MATRADE, ADIPEC is expected to continue the promising sentiment built since last year. “Opportunities in the sector are expected to grow and for that, Malaysian companies are encouraged to actively engaged in the market,” he said. It is recorded that USD49.28 million was generated during last year's mission.

In 2017, the total exports of oil & gas products to UAE were valued at USD58.7 million and accounted for a share of 2.1 per cent of total exports worldwide. Last year's main exports of oil & gas products from Malaysia were light petroleum distillates, petroleum spirit for motor vehicles and oils & other products of distillation of high temp coal tar.