malaysiang
KUALA LUMPUR, The players in the oil and gas services and equipment (OGSE) industry must remain agile and resilient to thrive in the constantly evolving industry landscape and effectively contribute to nation-building.
Petronas senior vice president of Malaysia Petroleum Management Datuk Bacho Pilong said the company emphasised its deep commitment to contributing to national development by fostering strong, resilient communities.
He highlighted Petronas’ efforts to elevate living standards, improve livelihoods, and support equitable growth throughout Malaysia.
‘It is our ‘amanah’ (trust) to develop the nation’s hydrocarbon resources and deliver energy sustainably for the benefit of the people.
‘Let us all unite our efforts and align our aspirations to achieve beyond greatness regardless of where we operate,’ Bacho said in his keynote address at Petronas OGSE Partners Day, here today.
He noted that as energy demands are expected to peak by 2030, industry players must remain agile to focus on efficiency,
transforming challenges into opportunities for long-term sustainability and growth.
‘Petronas will continue to support the industry in navigating challenges by producing and delivering energy solutions responsibly and sustainably,’ Bacho said.
In its second instalment, Petronas OGSE Partners Day brought together over 1,000 industry players and stakeholders, including key associations, federal and state departments and agencies, to exchange insights on building robust, resilient and competitive industry players for a sustainable energy ecosystem.
Key topics discussed included energy transition, technology innovation and adoption, financing strategies, growth opportunities and the development of human capital and capacity.
At the event, Petronas also formalised a memorandum of understanding (MoU) for the renewal of its Vendor Financing Programme (VFP) with nine panel financial institutions.
The programme, which was introduced in 2018, has facilitated access to financing amounting to RM1.9 billion for over
300 applicants to assist vendors in building their financial resilience amidst the changing energy landscape.
Petronas also unveiled its Supplier Support Programme (PSSP), aimed at encouraging vendors to incorporate sustainability principles in support of the National Energy Transition Roadmap.
Over the years, Petronas has remained dedicated to fostering a resilient OGSE ecosystem through various curated programmes.
In addition to VFP, Petronas also facilitates the Special OGSE (SOS) Financing Programme for smaller-scale vendors through a collaboration with the Malaysian Industrial Development Finance Bhd (MIDF), from which a total of RM49 million has been approved for over 30 applicants since 2022.
Under the Petronas Road to Bursa (R2B) programme, established in 2020 in partnership with Bursa Malaysia, the company has coached more than 30 local companies, out of which three have been listed on Bursa Malaysia.
Over and above this, the Petronas Vendor Development Programme has also benefitted 171 local bu
sinesses since 1993.
Source: BERNAMA News Agency
