Kuala Lumpur: Malaysia will continue to be a key Southeast Asian country of focus for Baker Hughes this year, while expecting the country's oil and gas sector to record moderate growth in the second half (2H18). Baker Hughes is a General Electric company (BHGE), which is an international industrial service entity, and one of the world's largest oilfield services companies.Asia Pacific President, Visal Leng said although challenges are likely to remain, momentum in large project executions - both new and those delayed due to an industry downturn - would likely see a pickup and move ahead in the 2H18.
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"I hope the worst is over. We are cautiously optimistic and forecasting growth in some countries for this year compared to last year. Overall, we are focusing on Southeast Asia and China. Malaysia is a very strong pillar for our business in this region," he told a media briefing here on Tuesday.
Malaysia is BHGE's headquarters for turbo-machinery and process solutions, as well as the oilfield services business. Commenting on Malaysia's performance in reacting to the industry downturn caused by the slump in oil prices, Leng said: "In general, quite well. Very positive."
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He said the key indicator for Malaysia is the national oil and gas company, Petronas, which has been doing well, with very good strategies and governance implemented during the period. "I think it is definitely the trendsetter and sets the benchmark out there for the region," he added. – Bernama
