Oil & Gas Services
Strategically located at the intersect of east-west shipping lanes and having established economic relations with our regional neighbours, Malaysia’s flourishing oil & gas (O&G) industry provides definite advantage and robust market opportunities for businesses. It continues to be an important sector of Malaysia’s economy, contributing 20.0 per cent to annual GDP.
The O&G services sub-sector covers the upstream (oil and gas field services), midstream (transportation and storage), and maintenance of machinery and equipment. In 2020, the industry recorded a total of 6 projects approved worth RM353.6 million. These projects generated a total of 204 employment opportunities.
Contribution to Annual GDP
O&G continues to be an important sector of Malaysia’s economy, featuring a strong ecosystem to support the O&G value chain domestically and in the region.
O&G Businesses in Malaysia
The O&G ecosystem comprises international oil companies, independents, services and manufacturing companies.
6 Projects Approved
Storage of Natural Gas
and Petroleum Products
MIDA remains focused on the continued strategic integration in Malaysia’s downstream operations to meet demands and capture value across the O&G supply chain. We also encourage more joint ventures or collaborations between local and foreign players with expertise to enhance local capabilities via knowledge transfer.
To assist and support companies in their business ventures, MIDA offers the Pioneer Status incentive or Investment Tax Allowance to eligible projects. Companies involved in the activity of upgrading or reconditioning of machinery and equipment including heavy machinery as well as manufacturing of machinery and equipment for O&G are encouraged to engage with us.
Today, Malaysia continues to be decisive in TechnipFMC’s investment in the region. Having one of the major fuel reserves in Asia Pacific together with a well-established industry built by expertise and technology, Malaysia remains a key location for oil and gas operations in South East Asia.