OPPORTUNITIES ABOUND IN MIDEAST OIL & GAS SECTOR FOR M'SIAN COMPANIES

By Muin Abdul Majid

DUBAI, Jan 26 (Bernama) -- A recent specialised marketing mission on oil and
gas services to three Middle Eastern cities organised by the Malaysian External
Trade Development Corporation (Matrade), yielded RM54 million (US$15.7 million)
in potential services and projects.

Matrade Dubai senior trade commissioner Dzulkifli Mahmud said the
amount, representing potential opportunities in engineering design, mercury
contaminant services and document management systems, was the result of 98
business meetings held in Abu Dhabi, Doha and Muscat.

"The economic slowdown and tighter credit conditions has so far not
negatively affected investments in the oil and gas industry," Dzulkifli
observed.

He reckoned that key projects which produce long-term benefits were
likely to go ahead, given that oil and gas is the most vital sector for the
economy of the region.

Eight Malaysian oil and gas services companies with 13 representatives
took part in the mission.

According to Dzulkifli, the oil and gas sector would see increased spending
for upgrading, engineering and technology procurement to accommodate an
increase in oil and gas production.

"Malaysian companies stand to benefit from this expansion by virtue of
market acceptability and compliance to international standards in oil and gas,"
he explained.

In Abu Dhabi, the Malaysian companies were briefed on opportunities in Iraq
by Dr Salwan Yousof, the chief executive of Inter Group, an Iraqi firm.

The company which specialises in oil and gas as well as construction, has
operations in the United Arab Emirates (UAE) and Iraq.

In Muscat, Petronas Carigali Ltd representatives gave a comprehensive
presentation on their involvement in Oman and Iraq.

Dzulkifli said roundtable discussions involving national oil companies
(NOCs) such as Qatar Petroleum and Petroleum Development Oman, provided a better
insight into their procurement system and tender process.

"These NOCs have encouraged Malaysian companies to participate in tenders
which are available online," he added.

Similar discussions were also held with two subsidiaries of Abu Dhabi
National Oil Company, namely Zakum Development Company and Abu Dhabi Company
for Onshore Oil Operations.

"The Malaysian participants were briefed on current and upcoming projects
and how they can participate in the tender process," Dzulkifli said.

The trade commissioner described as vital, collaborations between local
and Malaysian companies to enter the market.

In addition, he said Malaysia could offer training for oil and gas
personnel in areas like safety, production, negotiation and procurement.

-- BERNAMA