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Oil & Gas Services
and Equipment

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 2019, the industry recorded a total of 13 projects approved with the investments of RM3.3 billion. These projects generated a total of 972 job opportunities.

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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.

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O&G Businesses in Malaysia

The O&G ecosystem comprises international oil companies, independents, services and manufacturing companies.

85%

Domestic Investments

(RM2.8 bil)

RM3.3 bil

Total Approved Investments

in 2019

80%

15%

Foreign Investments

(RM482.2 mil)

RM3.3 bil

Total Approved Investments

in 2019

85%

Domestic Investments

(RM2.8 bil)

15%

Foreign Investments

(RM482.2 mil)

13 Projects Approved
in 2019

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Midstream Terminal
Storage of Natural Gas
and Petroleum Products

(RM2.4 bil)

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Upstream
Services

(RM67.8 mil)

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Machinery and
Equipment

(RM88 mil)

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Equipment Maintenance,
Repair, and
Overhaul (MRO)

(RM729.1 mil)

lucky365 extra 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, lucky365 extra 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.

- TechnipFMC
lucky365 extra provides comprehensive support to your business as you consider the competitive and comparative advantages Malaysia has to offer for your investment. Explore our dedicated resources, wide range of facilities or consultation services to assist you in expanding your operations here.
Find out more about the policies, incentives and facilities in the O&G services and equipment sub-sector.
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