PETRONAS, Sarawak Government Honour Local Vendors, Spurring Growth of Local OGSE Ecosystem

PETRONAS has made significant long-term investments in Sarawak’s energy sector, contributing RM325 billion to upstream operations and an additional RM24.5 billion to midstream and downstream activities since 1975. Over the past decade, the company has also invested RM650 million in education and human capital development, benefiting more than 980,000 Sarawakians.

To strengthen the state's oil and gas services and equipment (OGSE) ecosystem, PETRONAS continues to support local vendors through capability-building and financing initiatives. Since its launch in 2018, the Vendor Finance Programme (VFP), together with the Special OGSE (SOS) Financing Programme introduced in 2022, has provided approximately RM35 million in financing to 51 local vendors, helping them improve financial resilience, access working capital, and sustain business growth.

PETRONAS has also continued to develop Bumiputera businesses through its Vendor Development Programme (VDP), which has supported 39 Sarawak-based companies since 1993, with 29 successfully graduating from the programme. An additional 15 companies are currently participating in VDPx, an enhanced initiative designed to accelerate the growth of high-performing vendors.

In addition, the PETRONAS Supplier Support Programme has trained 173 vendors in Sarawak since its launch in 2024. Developed in collaboration with the Joint Committee on Climate Change (JC3) Greening Value Chain Programme, Bursa Malaysia, and the UN Global Compact Network Malaysia & Brunei (UNGCMYB), the programme helps vendors strengthen sustainability practices through training, carbon emissions reporting tools, and access to green and transition financing.

Through these initiatives, PETRONAS and the Sarawak Government continue to reinforce local talent development and vendor capabilities, ensuring the resilience and long-term competitiveness of Sarawak’s OGSE sector as the energy industry evolves.