Over the years, Malaysia has positioned itself strongly to support the needs of the oil & gas value chain domestically and regionally. This is largely in line with the country’s aspirations to become a regional oil & gas hub. It is the second-largest oil producer in Southeast Asia, and the fourth in the Asia Pacific behind China, India, and Indonesia. In terms of LNG and natural gas, Malaysia is the third and ninth-largest exporter in the world. Currently, there are $1.1trillion worth of projects up until 2030 in the oil and gas sector in the APAC region.

Focusing on the Upstream sector in APAC, there are currently 359 projects in the pipeline (104 in planning and 255 in development) worth $253 billion. Midstream follows closely with a total of 195 projects (65 in planning and 130 in development) worth $251billion. And of course, not forgetting the downstream sector, the region can see 243 projects (89 in planning and 154 in development), all worth $617 billion. 

In addition to the thriving Oil & Gas sector in APAC, the offshore wind market has ramped up in recent years with major investments being pumped into it and has a CAPEX of $280 billion up till 2030.