KUCHING, June 24 -- Sarawak’s oil & gas, services and equipment (OGSE) companies have been urged to explore adjacent industries to help secure their long-term sustainability in tandem with the energy transition that is seeing oil & gas majors shift to renewable energy and cleaner fossil fuels.
Dr Haji Hazland Abang Hipni, Sarawak’s Deputy Minister of Energy and Environmental Sustainability, says the OGSE industry needs to progress in a more sustainable manner.
“The current trend is to phase out fossil fuels as we are now going through a transition of energy where hydrogen is the energy of the future. Hence, Sarawak is focusing and committing a lot of effort towards greener sources of energy such as hydro, solar and hydrogen.
“In other words, leveraging on the State’s natural resources of over 300 rivers as well as regular rainfall, abundant sunshine and natural gas.”
Hazland was speaking at the Sarawak OGSE Roadshow 2022, jointly organised by Sarawak Economic Planning Unit (EPU) and Malaysia Petroleum Resources Corporation (MPRC), which he officiated here today (June 22, 2022).
Mohd Yazid Ja’afar, President/CEO of MPRC, added that sustainability within the OGSE industry was among focus areas of the National OGSE Industry Blueprint (OGSE Blueprint) 2021-2030, which was launched in April 2021.
“In tandem with the energy transition and a growing urgency globally to address climate change, OGSE players must balance financial survivability with long-term sustainability. Under the OGSE Blueprint, from this year to 2024 OGSE players will be guided towards institutionalising sustainability practices,” says Mohd Yazid.
Mohd Yazid added that the OGSE Blueprint contained initiatives designed to support and lead OGSE companies towards entering adjacent industries such as renewable energy, which the OGSE companies could readily enter due to their existing competencies in oil & gas. These existing competencies, in turn, are immediately transferable to the adjacent industries.
Over three hundred delegates attended the first day of the Sarawak OGSE Roadshow 2022, which is being held as part of a series of OGSE Roadshows conducted around Malaysia to promote the OGSE Blueprint and its initiatives available to benefit OGSE companies. The OGSE Blueprint contains 31 initiatives, of which 21 initiatives have been operationalised since the launch of the OGSE Blueprint in April 2021.
The second day of the Sarawak OGSE Roadshow 2022 will continue on 23 June 2021, with closing remarks and closing keynote to be delivered by Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Bin Tun Datuk Abang Haji Openg, Premier of Sarawak and Dato’ Seri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy), respectively.