Overseas markets key to growing Malaysia’s oil and gas services sector in next three years, says economy minister

Economy Minister Akmal Nasrullah Mohd Nasir (left) with Malaysia Petroleum Resources Corporation CEO Mohd Yazid Ja’afar speak to reporters in Kuala Lumpur on Septembber 23, 2026. — Bernama pic

First Published: Wednesday, 23 Sep 2026 1:07 PM MYT

KUALA LUMPUR, Sept 23 — The government expects the oil and gas services and equipment (OGSE) sector to increase its output and revenue in the next two to three years through expansion into overseas markets, said Minister of Economy Akmal Nasrullah Mohd Nasir.

Speaking to reporters today, he said greater international market participation would strengthen the sector’s revenue streams while improving the resilience of Malaysian OGSE companies against economic and industry shocks.

“When we talk about the potential in terms of the international oil and gas market, developing countries will be a good place for us to venture into and that is why in terms of our planning through this international market access programme, Timor-Leste will be among the destinations that we will go into.

“But definitely the groundwork must be done through Malaysia Petroleum Resources Corporation (MPRC) to build up the rapport and provide the mechanism and really to ease the process,” said Akmal Nasrullah after the preview of MPRC International Market Access Programme’s Privet OGSE Turkmenistan here today. — Bernama