KUALA LUMPUR – Oil and gas, services and equipment (OGSE) companies have a clear signal to adopt energy transition practices through the recently launched National Energy Policy 2022-2040, said Malaysia Petroleum Resources Corporation (MPRC) president and CEO Mohd Yazid Ja’afar.
He said that the policy is the government’s initiative to embrace environmental sustainability while at the same time, setting the stage for the players within the O&G industry to inject cleaner and renewable energy sources into the nation’s main energy mix.
This would require the OGSE companies, serving in the O&G value chain, to expand their skills towards oil and gas adjacencies that include renewable energy, he added.
With this National Energy Policy, he also stated that it is a necessary step for the OGSE companies in the industry as it is expected that low-carbon solutions would be included in their operations.
Apart from that, one of the policy objectives that the MPRC is tasked with supporting is the strengthening of the competitiveness and technological capabilities of the OGSE sector.
According to Yazid, MPRC has a mission to advance the OGSE sector and has already been identified as a stakeholder in the National Energy Policy’s action plan to further optimise production of indigenous oil and gas.
This programme would be led by the country’s Economic Planning Unit (EPU) and Petronas.
Furthermore, he said the MPRC is also in support of action plans that would define energy technology priorities at the national level as well as ensuring stakeholders deliver the priorities. This would be led by the EPU and Ministry of Science, Technology and Innovation, he added.
In addition to this, MPRC will continue to push OGSE companies towards the energy transition by promoting initiatives derived from the National OGSE Industry Blueprint (OGSE Blueprint) 2021-2030.
“As the OGSE Blueprint custodian, the MPRC calls for the OGSE companies to look into and leverage initiatives that are meant to help develop a robust, resilient, globally competitive OGSE sector for Malaysia,” he concluded.
Join our Telegram group for the latest updates!