MALAYSIAN OIL AND GAS FIRMS TARGET MIDEAST, NORTH AFRICA MARKETS

By Abdul Muin Majid

DUBAI, April 8 (Bernama) -- Targeting critical markets in and around West
Asia and North Africa, 35 companies from Malaysia's oil and gas sector will take
part in the Malaysia Services Exhibition (MSE) 2010 here next week.

Malaysia has globally acknowledged expertise in the engineering,
procurement, construction, commissioning and installation (EPCCI) of offshore
and onshore oil and gas facilities, said Noharuddin Nordin, chief
executive of Malaysia External Trade Development Corporation (Matrade).

Matrade is the organiser of MSE 2010 scheduled for April 13 to 15 at the
Dubai International Convention and Exhibition Centre.

"With the present industry forecast, 2010 holds enormous promise in terms of
expanding our profile in the key oil and gas hubs in West Asia, North Africa and
the Central Asian republics," Noharuddin said in a statement from Matrade.

He said the Malaysian Oil and Gas Services Council felt that MSE 2010 would
help in further promoting their expertise in such markets.

Noharuddin noted that oil remained the lifeline of major economies in the
Middle East and Africa.

"New oil discoveries and consolidation among key players in this sector are
also major factors attracting significant attention and investment into this
sector," he said.

The statement cited a recent industry outlook published by GlobalData
showing that capital expenditure in the oil and gas sector was expected to grow
by 12 per cent in 2010, driven largely by national oil companies looking to ramp
up their infrastructure.

It also mentioned Ernst and Young Oil and Gas Centre's assessment that
sustained demand for oil and major players taking the merger and acquisition
route to expand their asset base pointed to a bright year ahead for the
industry.

In 2009, over 350 oil and gas discoveries were announced worldwide, with the
Middle East and Africa accounting for 26 per cent of them.

Matrade said with 25 years of accrued experience in facilitating onshore and
offshore activities, Malaysia saw the projected demand in the global energy
sector as the right opportunity to boost its services exports.

It also noted that stronger oil prices and improving global economic
conditions were expected to bring significant investment into this sector in
2010.

Besides oil and gas, MSE 2010 will showcase the world-class capabilities of
Malaysian companies specialising in seven other service clusters, namely
professional services, construction, information and communications technology,
healthcare, franchising, education and specialised training, and financial
services.

Overall, 150 establishments including 130 service providers, 12 professional
associations and eight government agencies will take part in the third edition
of MSE.

The Malaysia Services Forum, which aims to introduce the scope of Malaysian
services to the target markets and facilitate networking, will also be part of
the event.

-- BERNAMA



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