Sabah OGSE vendors earned RM2 billion

Sabah OGSE vendors earned RM2 billion

KOTA KINABALU: Total revenue earned by Sabah Oil and Gas Services and Equipment (OGSE) vendors have reached RM2 billion from contracts awarded by PETRONAS and Petroleum Arrangement Contractors (PACs) from 2021 to 2024.


Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said, of this amount RM1 billion was earned last year alone. This marked a 229 per cent increase from RM613 million in 2021 to RM1 billion in 2024, while the number of Sabah OGSE companies had also grown by 91 per cent from 79 to 151.


“This remarkable achievement highlights the success of our collaborative efforts since the signing of the Commercial Collaboration Agreement (CCA) with PETRONAS in December 2021 to sustain and enhance the capabilities of Sabahan vendors,” he said.


Speaking at the commemoration of Sabah OGSE vendors at the Sabah International Convention Centre (SICC) here today, Hajiji commended PETRONAS for providing
opportunities for the OGSE sector to grow and giving its firm commitment to advance a vibrant and sustainable oil and gas ecosystem in Sabah.


His speech was delivered by Finance Minister Datuk Seri Masidi Manjun.


He said the CCA was a step in the right direction, which has since paved the way for mutual collaborations and strategic initiatives.


Among them, the Sabah Mentorship Programme, a key initiative by PETRONAS and the Sabah Government, which was the cornerstone of the initiative, pairing experienced
technical services providers with Sabahan vendors to foster knowledge transfer, collaboration, and development of specific technical capabilities aligned with Sabah’s oil
and gas tender plans.


“This programme has not only empowered Sabahans with necessary skills and knowledge but also strengthened the pipeline of qualified vendors, ensuring a sustainable future for the industry,” he said.


To further this agenda, he said the State Government, through SMJ Energy, had established the Sabah Local Content Council in May last year, which served as a collaborative platform for industry stakeholders to address challenges and identify
opportunities to enhance capacity building for local content in the OGSE industries.

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