Petronas encourages local oil and gas vendors to go global

The one-day event, held in collaboration with Malaysia External Trade Development Corporation (MATRADE), brought together stakeholders from nine countries all under one roof to network and provide insights to about 500 Petronas local contractors in helping them make inroads into the foreign markets.

The participating countries were Argentina, Azerbaijan, Brunei, Indonesia, Iraq, Mexico, Myanmar, South Sudan and Turkmenistan – where Petronas maintains operations or has ventured into, in terms of upstream exploration and development.

Deputy Minister of International Trade and Industry Dr Ong Kian Ming officiated BeyondHome, which was also attended by the ambassadors of Argentina, Azerbaijan and Mexico.

In his speech, Dr Ong commended Petronas for developing local vendors’ global potential and preparing them to compete at a more international scale. He said: “This initiative, aimed at inculcating a global vision in local vendors, is very much in line with the Ministry of International Trade and Industry’s (MITI) endeavour to push Malaysian products, services and technologies beyond our shores.

“The Government is placing substantial emphasis on the OGSE sector this year. We are encouraged by the rise in exploration and production activities and we expect a lot of potential in the downstream projects and products,” he added.

Petronas Vice President of International Assets Mohd Jukris Abdul Wahab, during a presentation at the event, said international ventures are challenging and companies need to be agile to manoeuvre through multi-dimensional challenges and risks.

“They need to be tactful in managing stakeholders’ expectations, build resilience and competitiveness in delivering integrated solutions in a sustainable manner,” he added.

Earlier in his welcoming remarks, Petronas Vice President of Group Procurement Samsudin Miskon said the BeyondHome initiative echoes Petronas’ statement of purpose to be a solutions partner that enables mutual development and shared success.

“‘Stepping Out’ is one of Petronas growth strategies. We want our vendors to embrace the same vision and strategy for growth and strength. The event is part of our efforts in preparing them for the world stage,” he added.

Apart from exhibition booths featuring a wide array of business opportunities in different continents, vendors were also exposed to a series of talks ranging from how to understand local nuances in the emerging markets and to get advice from successful medium-scale companies.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/28062019/petronas-encourages-local-oil-and-gas-vendors-to-go-global/