MGA is a member of Malaysian Task Force for OTC Asia 2022.  Playing an important role, Rosman Hamzah, Secretary General of MGA has been working tirelessly in coordinating the Malaysia Country Session @ OTC Asia 2022.  Themed on “Role of Upstream Investments in Ensuring Pragmatic Pathway Towards Net Zero”, Malaysia Country Session was successfully held on the 3rd day of OTC Asia, 23rd March 2022.

As Malaysia aspires to achieve Net Zero Emission (NZE) as early as 2050, the Malaysia Country Session aims to answer the questions by exploring be the role of the oil & gas sector in ensuring a pragmatic and responsible energy transition and the need to maintain upstream investments.

The Session Chairs by Mohd Redhani Abdul Rahman, Head, Portfolio, Intervention and Transition, PETRONAS  and  Sharifah Zaida Nurlisha Syed Ibrahim, President, Malaysia Oil & Gas Services Council (MOGSC) featuring the following panelists:

1. YBhg. Datuk Yatimah Sarjiman, Deputy Director General (Sectoral), Economic Planning Unit (EPU).
2. YBhg. Dato’ Arham Abdul Rahman, Chief Executive Officer, Malaysian Investment Development Authority (MIDA)
3. Mohamed Firouz Asnan, Senior Vice President, Malaysia Petroleum Management, Upstream Business, PETRONAS
4. Shane Harris, Chairman & President, ExxonMobil Exploration and Production Malaysia Inc
5. Charlotte Wolff Bye, Chief Sustainability Officer, PETRONAS

Malaysian Country session started with the Session Chair, Mohd Redhani Abdul Rahman set the context setting of the discussion. The 90 minutes was heavily discussed great insights from the panelists on how can the country developing a pragmatic NZE pathway than responsibly balance the Energy Trilemma, whilst at the same time ensuring Malaysia remain an attractive investment destination.

It was then followed by the moderated panel session and responding to the questions from the floor.

Key Takeaways

1. YBhg. Datuk Yatimah in her concluding statement said that energy transition towards a low carbon future is not possible with only energy policy in place but a collective efforts between the industry players to work together. The policymaker urges everyone to continue providing constructive feedback to improve energy policy for the benefits of Malaysian O&G industry.
2. YBhg. Dato’ Arham Abdul Rahman highlighted that stronger collaboration between the Government and industry stakeholders for improving Malaysia energy policy and attract future competitive investment.
3. Mohamed Firouz Asnan stressed that game-changing is important for sustainable future of Malaysian O&G industry. Better solutions need to be developed to improve our carbon footprint, game-changing to re-deploy and adapting potential future of energy industry.
4. Shane Harris concluded that Malaysian energy industry will continue to grow.  Natural gas will help to reduce carbon emissions, with the pragmativ regulatory framework will help achieving Malaysia Carbon neutrality aspirations.
5. Charlotte Wolff Bye said that it is more than important for the Government to work together with the industry that will help Malaysian energy to transform and to maximise its competitive energy export market.