GOVT EXPECTS NEW INVESTMENTS IN OIL AND GAS SECTOR

SHAH ALAM (Selangor, Malaysia), May 27 (Bernama) -- The government is expecting further investments to flow into the oil and gas sector from global players, says International Trade and Industry Minister, Mustapa Mohamed.

He said the sector has a lot of potential for investment as there are certain areas in Malaysia currently being developed into regional oil service centres.

He was speaking to reporters after launching the Sapura Regional Services Centre here Friday.

"This is a growing sector. Under the Economic Transformation Programme, the government has targeted this sector to contribute about 42 per cent of total investments.

"The important thing now is to train more qualified Malaysians engineers for this industry. If we want to become a developed county, we need to employ more graduates in this field," Mustapa said.

The new US$3.5 million investment facility is one of the long-term
partnerships between SapuraCrest Petroleum Bhd and GE Oil and Gas, aimed at enhancing support for key oil and gas operators in Malaysia and the region, including Petroliam Nasional Bhd (Petronas).

The president of Sapura Group, Shahril Shamsuddin said the partnership with GE, would enable the services centre to offer an enhanced value proposition to the Malaysian and regional customers in maintaining their oil and gas producing equipment at peak performance level.

"This certification by GE positions us even stronger and will also result in a faster turnaround and cost savings for our customers," he added.

The Sapura Regional Services Centre provides an enhanced range of GE Oil and Gas turbomachinery related services, including maintenance and repairs.

It is designed to enhance the efficiency and performance of GE's fleet of high-tech heavy duty and aero-derivative gas turbines and compressors installed in Malaysia and the region.