Over 70pc Sabahan oil and gas services and equipment companies inactive, says state finance minister

Masidi said the figure is disappointing, especially considering the number of Sabahan OGSE companies has grown by 81 per cent to 475 companies since the same year. — The Borneo Post picKOTA KINABALU, May 18 — Over 70 per cent of Sabahan oil and gas services and equipment companies remain inactive since 2022, said Sabah Finance Minister Datuk Seri Masidi Manjun.

He opined that it could also be due to local companies still used to being spoon-fed with opportunities, causing them to be complacent and not strive to better their performance to be at the same level as bigger companies.“Obviously something is not right. We have a lot of Sabahan OGSE companies but the ones that are actually active are not that many.

He said this council, which was established to find a way to increase local companies’ participation in the OGSE sector and to monitor the progress, will be conducting a study on why many Sabahan OGSE companies remain inactive, adding that the Sabah Ministry of Industrial Development and Entrepreneurship will also pursue a similar endeavour.

Source: News Formal (newsformal.com)

Sabah Oil And Gas Sector Sabahan Oil And Gas Services And Equipment Compani

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