O&G Sector To Add 52,300 Jobs By 2020

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PORT KLANG: The oil and gas sector is expected to add 52,300 jobs, mostly highly-skilled workers, by 2020, Minister in Prime Minister’s Department Datuk Seri Abdul Wahid Omar said.

He said the government is building a significant human capital in the sector by churning out more than 16,000 highly-skilled and highly-paid technical professionals.

The number of skilled employees in the sector is also expected to grow when the Pengerang Integrated Petroleum Complex in Johor comes on stream in the near future, he said at the launch of Schlumberger’s Asia Centre for Reliability and Efficiency (ACRE) at the Port Klang Free Zone on Tuesday.

He said Petronas had made significant direct investments in the oil and gas downstream industry at home and production sector abroad.

“This has contributed to the increase in average household income from merely RM264 per month in 1970 to RM5,919 in 2014.

“In this period, median household income increased from RM166 (in 1970) to RM4,528 in 2014,” he said.

Abdul Wahid said Malaysia’s economy grew 5.6 per cent in the first quarter of 2015 and was on track to record an average growth of between 4.5 and 5.5% this year.

“Likewise, we are still committed to reduce our fiscal deficit from 3.5% in 2014 to 3.2% of gross domestic product this year,” he added. – Bernama