Official Opening of the 14th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA 13)

Bismillahirrahmanirrahim

Assalamua’alaikum warahmatullahi wabarakatuh

Salam Sejahtera

Salam 1Malaysia

And a very good morning

Yang Berbahagia Tan Sri Asmat Kamaludin,

Chairman of Malaysian Exhibition Services Sdn Bhd or MES,

Yang Berusaha Dr Zainal Abidin Mohd Yusof,

2. I say „highly significant‟ because these are certainly very exciting times for the Oil & Gas industry. The thirst for energy is not dissipating. Billions are being invested by the industry regionally. There are more discoveries of deepwater reserves. New technology has allowed previously uneconomical reserves to be revisited. Deloitte recently estimated Malaysia’s Oil & Gas acquisitions to reach between 10 to 15 billion ringgit in 2013 alone. The future is indeed promising.

3. In Malaysia, recent developments such as the discovery of oil and gas reserves onshore Sarawak and the successful drilling at Cendor last month which has transformed it from a marginal field to one of the country‟s biggest oilfields, are worth highlighting. It is proof that relentless pursuit of reserves through creative solutions, innovative technology and industry collaboration are bearing fruit.

4. For PETRONAS, there were 24 new discoveries in 2012, up from 19 in 2011. Our first Floating Liquefied Natural Gas (FLNG) plant is expected to be completed in 2015. This technology will pave the way for monetisation of small and stranded gas fields, both in Malaysia and beyond.

5. While all these news are positive, the eventual depletion of reserves is a reality. It is therefore incumbent upon us to ensure the industry stays on its toes in innovating for higher extraction, safer work environment and a more sustainable management of this precious resource. While Malaysia still has untapped potential, future reserves are bound to be more challenging to access. With this challenge comes a need – the need for more advanced technology, know-how and expertise to reach frontier regions and improve rate of recovery. In moving forward, we need productive partnerships that optimise our resources and eliminate any duplication of efforts. We should pro-actively phase-out ageing technologies and become the launchpad for innovation. This is precisely one of the objectives under the Oil, Gas and Energy National Key Economic Area (NKEA) of the Malaysian governement. The targets under this NKEA include attracting 10 to 20 major firms in the oil field services and equipment (OFSE) industry to base 10 per cent of their business operations in Malaysia.

Ladies and Gentlemen,

6. The importance of innovation in our industry cannot be emphasised enough. Innovation not only to enhance productivity but also safety. And I believe Malaysia provides a highly fertile ground to locate research and innovation facilities for the industry. An established Oil & Gas industry, supportive government policies, a mature education system with international links and a relatively young population. All requisite factors to cultivate and nurture a talent pool for organisations that need to continually innovate to stay relevant.

7. In this context, OGA 2013 assumes a very important role. I hope this event provides a window for all attendees to witness first- hand the potential and opportunities Malaysia presents for the industry to relocate here and grow, both in Malaysia and regionally. I applaud the organisers and all supporting bodies of this event, and of course all exhibitors, for putting this show together. I am made to understand that this edition of OGA will see the participation of some 2000 companies from about fifty countries. In fact I was told this is the biggest ever OGA to date. Well done!

8. The next three days programme provides a platform that brings together key players in the global oil and gas industry to meet, interact and exchange ideas. And, to forge collaborations. I strongly encourage all attendees to make the most of this event. I know it is too big to cover in one day. But you have three days!

Ladies and Gentlemen,

9. Once again, I wish to congratulate the organisers, all exhibitors, delegates and supporters of OGA 13 for coming together in such a spectacular fashion. I wish you all every success in making the most of your investment in this exhibition. And when you get tired from all the walking in the exhibition halls, please go over to Suria KLCC for some shopping therapy and relaxation. And contribute to PETRONAS and the Malaysian economy.

10. On that note, with “Bismillahirrahmanirrahim”, in the name of God Most Gracious, Most Merciful, I officially declare open this Exhibition.

Thank you.

Wabillahi Taufik Walhidayah

Wassalamualaikum Warahmatullahi Wabarakatuh