Matrade sees RM400m sales from Kazakhstan expo
KUALA LUMPUR: Malaysian External Trade Development Corp (Matrade) aims to generate RM400 million in sales from the specialised marketing mission for oil and gas (O&G) sector at the upcoming Kazakhstan International Oil & Gas Exhibition and Conference (Kioge) 2014.
Matrade director of O&G and chemical section, Abu Bakar Koyakutty, said in a pre-event media conference that incentives given by Kazakhstan government and recognition of Malaysian companies' capabilities in the industry are factors that would contribute to the expected increase in this year's sales compared with the previous Kioge.
"Kazakhstan is going to be a big O&G player in coming years and there is a huge opportunity for us to explore business opportunities there," he added, stating that nine companies with 14 representatives will take part in Kioge that will take place in Almaty, Kazakhstan, from tomorrow to October 3.
Scomi Group's subsidiary, Scomi Oiltools Sdn Bhd, is among Malaysian companies that will participate in this year's event. Others include Oilfield Technical Inspection Sdn Bhd and Hadid Engineering Sdn Bhd.
Abu Bakar said seven Malaysian companies which took part in Kioge in 2012 had clocked in nearly RM200 million sales.
Abu Bakar said Malaysian O&G firms' experience in offshore oil production is a great advantage for them to venture into the Kazakhstan market as the country is pushing heavily towards oil explorations in the Caspian Sea, where the largest proven oil reserves of 30 billion barrels lie. "Malaysia's expertise in offshore oil exploration combined with good government-to-government diplomatic ties helped these nine firms make greater inroads into Kazakhstan's O&G industry."
Abu Bakar said the nine firms shortlisted for participation in Kioge 2014 are from Matrade's list of between 200 and 300 O&G companies based on the strength of the products and services they offer.
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