Malaysian oil and gas services and equipment (OGSE) players are being positioned for wider market access into Central Asia through Turkmenistan, as the government pushes the industry to diversify beyond domestic demand and build stronger international revenue streams.
Economy Minister Akmal Nasrullah Mohd Nasir said Turkmenistan offers a strategic entry point into Central Asia, supported by more than three decades of bilateral relations and Malaysia’s longstanding presence in the country’s energy sector.
The push is being spearheaded through the Malaysia Petroleum Resources Corporation’s (MPRC) International Market Access Programme, which is designed to connect Malaysian OGSE companies with overseas markets, industry decision-makers and commercial opportunities.
“Market access is not the same as market success,” Akmal said, adding that while the government can facilitate introductions, trade missions and institutional cooperation, companies must ultimately convert those opportunities into commercially sustainable business.
The Turkmenistan initiative follows Malaysia-Turkmenistan engagements in June 2026, when MPRC met Turkmennebit and Turkmengas, and began advancing a proposed memorandum of understanding to explore collaboration opportunities for Malaysian OGSE companies.
Akmal said Malaysia could leverage the confidence built through its existing track record in Turkmenistan, including Petronas’ experience, while expanding commercial opportunities for a wider pool of Malaysian service providers.
The initiative brings together the Economy Ministry, Foreign Ministry, Matrade, Petronas and other partners under a coordinated effort to support Malaysian firms seeking opportunities overseas.
“Turkmenistan, however, is not intended to be the final destination. Similar market-access pathways are also being explored in Timor-Leste and other emerging markets.
“More markets. More customers. More exports. More resilient Malaysian companies,” Akmal said.
Malaysia’s OGSE industry comprised 2,894 establishments in 2023, generating RM79.2 billion in gross output and RM39.4 billion in value added, equivalent to about 2.2% of nominal GDP that year.
The sector also engaged more than 123,000 people, including nearly 109,000 skilled and semi-skilled workers.
However, some 2,652 establishments, or 91.6% of the industry, were micro, small and medium enterprises, highlighting the need for greater scale, international market access and recurring overseas revenue.
Under the National OGSE Industry Blueprint 2021-2030, Malaysia aims to raise export revenue to 50% of total industry revenue by 2030, alongside greater participation in energy-transition and “Beyond OGSE” activities.
Akmal said Malaysia’s OGSE sector had built strong technical expertise and capabilities domestically, but its next phase of growth would increasingly depend on competing internationally.
The government and MPRC would continue opening doors and facilitating access, he said, but companies would need to compete on capability, cost, technology, reliability, safety and trust to secure and sustain business overseas.
