Petrochemical
Petrochemicals
Industry - Oil and Gas
Malaysia's oil and gas (O&G) industry is strategically located at the crossroads of East-West shipping lanes, fostering economic ties with our regional neighbors and offering businesses distinct advantages and strong market opportunities. It remains a significant sector of the Malaysian economy, contributing 20.0% to the annual GDP.
The O&G services sub-sector encompasses upstream (oil and gas field services), midstream (transportation and storage), and machinery and equipment maintenance. In 2020, a total of six projects were approved in this sector, valued at MYR 353.6 million. These projects collectively created 204 job opportunities.
20% = Contribution to annual GDP
Oil and gas remain a vital component of the Malaysian economy, boasting a robust ecosystem to support the domestic and regional O&G value chain.
> 3,500 = Oil and Gas Businesses in Malaysia
The O&G ecosystem comprises international oil companies, independent companies, and service and manufacturing companies.
Government Support
The Malaysian Investment Development Authority (MIDA) remains focused on the continued strategic integration of downstream operations in Malaysia to meet demands and capture value across the entire O&G supply chain. We also encourage collaborations and joint ventures between domestic and foreign companies with expertise to enhance local capabilities through knowledge transfer.
To assist and support companies in their business development, MIDA offers pioneer status incentives or investment tax allowances for eligible projects. Companies involved in upgrading or maintenance of machinery and equipment, including heavy machinery, and the manufacturing of O&G machinery and equipment are encouraged to engage with us.
Malaysia Office：Suite 1, Level 23, Menara KOMTAR, 80888 Ibrahim International Business District, Johor Darul Ta‘zim, Malaysia
Tel：+607 272 5827
E-mail：enquiry@fozl.sg
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