Baku:The oil and gas services and equipment (OGSE) industry in Malaysia is poised for growth and needs to enhance its scale and innovation to remain competitive both regionally and globally, as stated by Petroliam Nasional Bhd (Petronas).

According to BERNAMA News Agency, Rashidah Alias, Petronas' vice president for Group Procurement, emphasized the industry's progress in handling complex projects and integrated solutions across the energy value chain. She highlighted the necessity for the industry to build greater scale, enhance technology differentiation, and develop solutions capable of competing beyond the domestic market. Rashidah spoke on these issues during a session at Oil and Gas Asia (OGA) 2026.

Rashidah emphasized collaboration as a key driver for growth, allowing companies to leverage complementary strengths and invest in technology, talent, and innovation. She also stressed the importance of maintaining market discipline and competitiveness to drive continuous improvement, productivity, and innovation within the industry.

She pointed out that future competitiveness would rely on the ability to improve productivity and adapt to market changes, with continued investment in technology and talent being crucial. Rashidah reaffirmed Petronas' commitment to working with industry stakeholders to enhance the resilience and sustainability of Malaysia's OGSE sector.

In a separate session, Wee Lian Hong, Petronas Group Procurement senior general manager, discussed the company's initiatives in strengthening industry capabilities and sustainability. He noted the success of the Vendor Development Programme (VDP) and its extension, VDPx, which have supported 170 SMEs, with 20 expanding internationally. The Vendor Financing Programme has facilitated RM2.2 billion in funding, and the Petronas Supplier Support Programme has onboarded over 1,082 suppliers to enhance ESG compliance.

Petronas continues to provide support through initiatives aimed at bolstering the OGSE sector's competitiveness and growth.