National OGSE Industry Blueprint
2021- 2030

The National OGSE Blueprint (OGSE Blueprint) 2021-2030 was launched in April 2021 by Minister in the Prime Minister’s Department (Economy) to develop a robust, resilient and globally-competitive Malaysian OGSE sector which contributes to the sustainable development of National priorities. 

The implementation and progress of the OGSE Blueprint is coordinated by Malaysia Petroleum Resources Corporation (MPRC), an agency under the supervision of the Ministry of Economy tasked with advancing the OGSE sector.

A robust, resilient, and globally competitive Malaysian OGSE sector which contributes to the sustainable development of National priorities

National OGSE Industry Blueprint’s Vision Statement

Source : National OGSE Industry Blueprint 2021-2030

OGSE Indicators

Competitiveness

Industry Profit-before-tax. Based on total revenue of 2,286 core OGSE companies (Source:OGSE100 FY2022)

10%

~4%

Exports as a proportion of total revenue. Based on 26 public listed OGSE companies. (Source: OGSE100 FY2022)

50%

32%

Resilience

Revenue per company. Based on 2,286 core OGSE companies. (Source: OGSE100 FY2022)

RM60 mil

~RM25 mil

Sustainability

Number of OGSE100 companies reporting sustainability practices. (Source: OGSE100 FY2022)

70

32

Number of companies in the Dow Jones Sustainability Index. (Source: PLC annual report)

5

0

Development

Pipeline of VDP graduates. (Source: PETRONAS)

60

~30

Proportion of listed companies in the industry. 26 out of 2,286. (Source: OGSE100 FY2022)

2%

1%

Market share of SMEs. Based on total revenue of 2,286 core OGSE companies. (Source: OGSE100 FY2022)

10%

10%

Number of billion-ringgit companies. (Source: Bursa Malaysia)

15

8

Proportion of local principals in the industry. (Source: PETRONAS)

80%

~70%

XX Baseline based on 2019

XX Target end-state, 2030

XX Baseline (latest year available)

31 recommendations have been identifieded to drive the OGSE industry

A. Industry-wide recommendations:
INDUSTRY LEVERS
  1. Government point of contact for OGSE

  2. Industry consolidation

  3. OGSE industry data depository

  4. Industry-wide guidance on global OGSE trends and best practices

  5. OGSE Company recognition
B. Technology development recommendations:
TECHNOLOGY LEVERS
  1. Applied R&D centres to bridge academia and industry
  2. R&D apprenticeship programme
  3. Secondment of local talent to foreign R&D centres
  4. Tech adoption financing, tax deductions, and tariff waivers
  5. Overseas researcher outreach programme
  6. In-shoring of R&D activities and high-value manufacturing from MNCs
  7. OGSE Intellectual Property (IP) marketplace
C. Talent development recommendations:
TALENT LEVERS
  1. Skilled worker retention programme
  2. OGSE career promotion
  3. Expansion of Engineering courses
  4. Expert mentorship from ex-OGSE talents
D. Export capabilities recommendations:
EXPORT LEVERS
  1. Orchestration of consortiums for OGSE players, with the facilitation of seed financing
  2. Grants and/or tax breaks to OGSE segments that are nearly export-ready
  3. Mitigation of export risk through debt collection, export risk insurance and arbitration
  4. Engagements with foreign government / National Oil Corporations in high-potential markets
  5. Energy Export Fund
E. Financial strength recommendations:
Finance Levers
  1. OGSE financing Centre of Excellence
  2. Financial management workshops
  3. Alternative financing platform for OGSE
  4. Special growth facility for nascent adjacencies
F. Bumiputera participation recommendations:
BUMIPUTERA LEVERS

1. Centralisation of OGSE Bumiputera assistance

Blueprint Dashboard

INITIATIVE OWNERS

Competitiveness

Key Indicator Latest figure
Industry Profit-before-tax
  • 6.1% (2021)
  • Based on PBT over total revenue of 2,376 core OGSE companies 
(Source: OGSE100)
Export as a proportion of total revenue
  • 23% (2021)
  • RM7.2 bil of export over RM31.7 bil (total revenue of 23 PLCs)
(Source: OGSE100)

Resilience

Key Indicator Latest figure
Revenue per company
  • RM28.57 (2021)
  • (Source: OGSE100)

Sustainability

Key Indicator Latest figure
Number of OGSE100 companies reporting sustainability practices
  • 45 companies (2022)
  • (Source: PLC annual report and open source)
Number of companies in the Dow Jones Sustainability Index
  • 1 company (2022) – MISC Berhad
  • (Source: Annual report MISC Berhad)

Development

Key Indicator Latest figure
Pipeline of VDP graduates
  • 75 (Sept 2021)
  • (source: PETRONAS/MEDAC)
Proportion of listed companies in the industry
  • 9% (2021)
  • 23 out of 2376 (2021)
  • (Source: BCG Analysis for OGSE Blueprint)
Market share of SMEs
  • 12.3% (2021)
  • Based on total revenue of SMEs (RM8.17 bil) over total revenue of core OGSE companies (RM67.88 bil)
  • (Source: MPRC)
Number of billion-ringgit companies
  • 5 (2021), 5(2022) and 7 (2023)
  • Bumi Armada, Dialog Group, MISC and Yinson Holding
  • (Source: Bursa Malaysia )
Proportion of local principals in the industry
  • 89% (Jan 2022)
  • (source: PETRONAS)