Latest news with #MohdYazidJa'afar
The Sun
31-07-2025
- Business
- The Sun
RMK-13: MPRC Welcomes Recognition of OGSE Companies in Catalysing CCUS Industry
KUALA LUMPUR: Malaysia Petroleum Resources Corporation (MPRC) welcomes the Government's continued emphasis on strengthening the green economy, one of the 10 key economic diversification areas in the 13th Malaysia Plan (RMK-13) announced by Prime Minister Datuk Seri Anwar Ibrahim today. This focus reaffirms new opportunities for Malaysia's Oil & Gas Services and Equipment (OGSE) companies to drive sustainable growth and contribute to the national economy. Catalysing the Carbon Capture, Utilisation and Storage (CCUS) industry was highlighted under RMK-13's green economy initiatives, with a focus on encouraging participation from small and medium-sized enterprises (SMEs) and OGSE companies. The president and CEO Mohd Yazid Ja'afar said in a press statement today that the RMK-13 reiterates OGSE industry's role in Malaysia's low-carbon future as it pivots from traditional oil & gas to energy transition opportunities 'This supports MPRC's commitment to advancing sustainable and low-carbon solutions, a mission we have championed since the launch of the National OGSE Industry Blueprint 2021-2030 (OGSE Blueprint) in April 2021 and further guided by the National Energy Transition Roadmap (NETR) in targeting net-zero for Malaysia by 2050.' The NETR targets net-zero emissions by 2050, with renewable energy comprising 70% of the generation mix and a complete phase-out of coal by 2044. This reinforces the need for OGSE players to diversify into energy transition-related businesses by leveraging their transferable skills and capabilities. The roadmap also identifies CCUS as one of six key energy transition levers, with PETRONAS's Kasawari and Lang Lebah CCS among the 10 NETR flagship projects. Following the passing of the CCUS Act in March 2025 and its Royal Assent in July, RMK-13's policy direction on CCUS underscores the Government's resolve to position CCUS as a major economic growth driver. In RMK-13, the Government also committed to strengthening regulatory frameworks, expanding research and development and commercialisation and innovation (R&D&C&I), and enhancing international collaboration to accelerate CCUS deployment. Since 2024, MPRC has worked closely with the Environmental and Natural Resources Division of the Economy Ministry on CCUS implementation, including public awareness initiatives and the development of the CCUS Roadmap. MPRC's Flagship Initiative 2: Growth Beyond OGSE, introduced in the OGSE Blueprint Mid- Term Review (MTR) in March 2025, also supports CCUS development by encouraging OGSE companies to diversify into adjacent sectors such as carbon management, hydrogen and renewables. The OGSE Blueprint MTR aims to develop a robust, resilient, globally-competitive OGSE industry in Malaysia, contributing to national energy security, sustainability and energy transition agenda by 2030. Meanwhile, MPRC also welcomes the nuclear energy development programme in RMK-13, which will further strengthen the country's low-carbon energy mix and open new participation opportunities for OGSE companies in adjacent industries. 'MPRC remains committed to enabling OGSE companies to thrive in the evolving energy landscape. Through strategic partnerships, policy advocacy, and capability-building, we will continue to champion sustainable opportunities that support Malaysia's net-zero ambition,' added Mohd Yazid.
The Star
29-04-2025
- Business
- The Star
OGSE industry must embrace tech, digitalisation, new energy sources
Malaysia Petroleum Resources Corporation president and chief executive officer Mohd Yazid Ja'afar KUALA LUMPUR: The oil and gas services and equipment (OGSE) industry must embrace tech adoption, digitalisation and new energy sources such as hydrogen, and carbon capture, utilisation and storage (CCUS) despite the challenges posed in the energy transition. Malaysia Petroleum Resources Corporation (MPRC) president and chief executive officer Mohd Yazid Ja'afar said global economic uncertainties, shifting international policy directions, and technological disruptions are reshaping energy markets in real-time. "These include new tariffs from the United States (US), in particular on solar products, including those from Malaysia (at 34 per cent), which are bound to affect global renewable markets. "Geopolitical conflicts continue to impact oil prices and global energy security. The recent gas leak incident at Putra Heights has also called attention to the importance of ensuring energy security in the face of energy transition and to the critical need for diverse and affordable energy sources to keep our energy supply secure,' he said in his welcoming address at the OGSE100 Chief Executive Officers (CEOs) Forum 2025 here today. Moreover, he said the emergence of a regional imbalance in the push for sustainability involving Europe and the US versus the rest of the world may impact the pace of sustainability and environmental, social and governance (ESG) adoption within the industry. The forum "Driving Sustainable Energy Innovation Globally' is organised by MPRC and is in its second annual edition. - Bernama
