News

108 local companies benefitted from Petronas' VDP program as of Oct this year

Datuk Seri Mohamed Azmin Ali

KUALA LUMPUR, Nov 13 -- A total of 108 local companies have benefited from the Petronas’ Vendor Development Program (VDP) with approximately RM9 billion worth of contracts as of October this year.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said to ensure more local vendors and consultants are actively involved in the oil and gas industry, the national oil company in collaboration with various ministries and agencies, had implemented various initiatives and programs including the VDP.

“Petronas is serious about developing the capacity and capabilities of local consultants. For example, local consultants are also involved in Petronas’ oil and gas exploration and production activities in Turkmenistan and Myanmar.

“This is because the country’s infrastructure and expertise are still limited and it gives these consultants the opportunity to explore new markets,” he said during a question and answer session in the Dewan Rakyat today.

He was responding to Datuk Seri Hasan Arifin's (BN-Rompin) question regarding complaints among consultants in the oil and gas industry over the use of foreign consultants and the lack of opportunities enjoyed by local consultants.

From January to August this year he said, local consulting firms made up over 60 per cent of the total consultancy companies appointed by Petronas.

“For highly specialised and technical areas such as the Engineering, Procurement, Construction and Commissioning (EPCC), proprietary and digital technology (ICT), local expertise is extremely limited and need to be sourced from external sources.

“For example, deep-sea seismic mapping technology is owned by a handful of global companies and this expertise is not available locally or it can be developed in a short time by Petronas,” he said.

The works according to him, required huge capital and high technology because oil and gas fields are located deep in the sea with high contamination levels.

To date, there are only four global firms which offered seismic deep-water acquisition services in the world, he said.

“Petronas appoints foreign consultants or vendors to ensure the continuity of projects and in meeting critical targets,” added Mohamed Azmin.

-- BERNAMA

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