KUALA LUMPUR (Sept 19): The National Energy Policy 2022-2040 launched on Monday (Sept 19) sends a clear signal to oil and gas services and equipment (OGSE) companies to participate in energy transition as the government prioritises environmental sustainability.
Malaysia Petroleum Resources Corporation (MPRC) president and chief executive officer Mohd Yazid Ja’afar said the National Energy Policy’s low-carbon nation aspiration sets the stage for oil and gas (O&G) industry operators to inject more clean and renewable sources into the country’s primary energy mix.
“This, in turn, will require OGSE companies, which serve the O&G value chain, to enhance their capabilities towards O&G adjacencies such as renewable energy,” he said in a statement.
The OGSE industry is also expected to employ low-carbon solutions in its work as part of the industrial energy transition journey.
In line with this, enhancement of OGSE sector competitiveness and technology capabilities was identified as among the policy initiatives MPRC has been tasked with supporting.
Yazid said MPRC is to advance the OGSE sector and it has been identified as a stakeholder in the policy’s action plan to optimise indigenous O&G production, led by the Economic Planning Unit (EPU) and Petronas.
MPRC also supports the action plan to determine energy technology priorities at the national level and ensure stakeholders deliver on the priorities, led by EPU and the Ministry of Science, Technology and Innovation, he said.
MPRC will also continue to steer OGSE companies towards the energy transition by promoting initiatives from the National OGSE Industry Blueprint (OGSE Blueprint) 2021-2030.
“As the custodian of the OGSE Blueprint, MPRC urges OGSE companies to explore and leverage initiatives aimed at developing a robust, resilient and globally competitive Malaysian OGSE sector,” he said.
Source: TheEdge - 19 Sep 2022
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