National OGSE Industry Blueprint

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

OGSE Indicators

Economic Indicator

GDP Contribution

RM50 B
RM20-40 B

RM39.4 B (2023)

Industry profit-before-tax margin*

10%

~4%

10% (2024)

Revenue per worker

RM1.4 M
RM1.2 M

RM0.77 M (2024)

Revenue per company*

RM60 M

~RM25 M

RM50.1 M (2024)

Exports as a proportion of total revenue

50%
32%

53% (2023)

Proportion of listed companies in the industry

2%
1%

1.3% (2024)

Market share of SMEs*

Maximum of 10%
10%

10% (2024)

Number of billion-ringgit companies.

20
8

14 (2024)

Technology Indicator

% of R&D expenditure by OGSE sector out of total revenues

Increase 5% from 2025

N/A

N/A

Talent Indicator

Number of skilled and semi-skilled workers

60,000

57,000

108,600 (2023)

Sustainability Indicator

Number of OGSE companies reporting sustainability practices.

89 companies (2024)

Number of OGSE PLCs in the F4GBM Index

9 companies (2024)

Energy Transition Indicator

Proportion of revenues derived outside of O&G

25%

12%

9.12% (2023)

(Higher percentage is better)

Bumiputera Indicator

Pipeline of VDP graduates

60
30

75 (March 2025)

Regional Balance Indicator

Total revenue for Sabah and Sarawak core OGSE companies

Increase 5x from baseline

RM6.4 B (2022)

RM 9.1 B (2024)

XX Target end-state, 2030

XX Baseline based on 2019

XX Baseline (latest year available)

*Based on the 1,883 core OGSE companies in FY2024

31 recommendations have been identified to drive the OGSE industry

A. Industry-wide recommendations:

INDUSTRY LEVERS

Government point of contact for OGSE
Industry consolidation
OGSE industry data depository
Industry-wide guidance on global OGSE trends and best practices
OGSE Company recognition

B. Technology development recommendations:

TECHNOLOGY LEVERS

Applied R&D centres to bridge academia and industry
R&D apprenticeship programme
Secondment of local talent to foreign R&D centres
Tech adoption financing, tax deductions, and tariff waivers
Overseas researcher outreach programme
In-shoring of R&D activities and high-value manufacturing from MNCs
OGSE Intellectual Property (IP) marketplace

C. Talent development recommendations:

TALENT LEVERS

Skilled worker retention programme
OGSE career promotion
Expansion of Engineering courses
Expert mentorship from ex-OGSE talents

D. Export capabilities recommendations:

EXPORT LEVERS

Orchestration of consortiums for OGSE players, with the facilitation of seed financing
Grants and/or tax breaks to OGSE segments that are nearly export-ready
Mitigation of export risk through debt collection, export risk insurance and arbitration
Engagements with foreign government / National Oil Corporations in high-potential markets
Energy Export Fund

E. Financial strength recommendations:

FINANCE LEVERS

OGSE financing Centre of Excellence
Financial management workshops
Alternative financing platform for OGSE
Special growth facility for nascent adjacencies

F. Bumiputera participation recommendations:

BUMIPUTERA LEVERS

1. Centralisation of OGSE Bumiputera assistance

Key Indicator	Latest figure
Industry Profit-before-tax	5.71% (2023) Based on PBT over total revenue of 1,855 core OGSE companies (Source: OGSE100 FY2023)
Export as a proportion of total revenue	53% (2023) RM23.1 bil of export over RM43.5 bil (Total revenue of 26 PLCs) (Source: OGSE100 FY2023)

Key Indicator	Latest figure
Revenue per worker	RM1.16 mil (2023) Based on the total revenue of 1,855 core OGSE companies over the total number of workers (Total Revenue Source: OGSE100 FY2023) (Total Number of Workers Source: BCG Analysis for OGSE Blueprint, 2019)
Revenue per company	RM45.3 (2023) (Source: OGSE100 FY2023)
Quick Ratio	1.21 (2023) The higher the ratio the better (Source: 26 OGSE PLCs Annual report FY2023)
Altman-Z Score	1.23 (2023) The higher the ratio the better (Source: 26 OGSE PLCs Annual report FY2023)
Debt-to-Equity Ratio	1.09 (2023) The lower the ratio the better (Source: 26 OGSE PLCs Annual report FY2023)
Proportion of revenues derived outside of O&G	9.12% (2023) Higher percentage is better (Source: 26 OGSE PLCs Annual report FY2023)
Number of OGSE patent families with local inventors filed in last 5 years	41 (2023) (Source: Intellectual Property Corporation of Malaysia (MyIPO), OGSE Development Grant (DG), MPRC Internal Analysis

Key Indicator	Latest figure
Number of OGSE100 companies reporting sustainability practices	88 companies (2023) (Source: NOS-R)
Number of companies in the Dow Jones Sustainability Index	1 company (2023) – MISC Berhad (Source: Annual report MISC Berhad)

Key Indicator	Latest figure
Pipeline of VDP graduates	72 (March 2024) (Source: PETRONAS/MEDAC)
Proportion of listed companies in the industry	1.4% (2023) 26 out of 1,855 (2023) (Source: OGSE100 FY2023)
Market share of SMEs	10% (2023) Based on total revenue of SMEs (RM8.5 bil) over total revenue of core OGSE companies (RM83.9 bil) (Source: OGSE100 FY2023)
Number of billion-ringgit companies	5 (2021), 5 (2022) and 6 (2023) MISC, Yinson Holdings, Bumi Armada, Dialog Group, Dayang Enterprise Holdings, Velesto Energy (Source: Bursa Malaysia )
Proportion of local principals in the industry	89% (Jan 2022) (source: PETRONAS)