We are delighted to extend our invitation to you and your colleagues to join us at the 11th Sabah Oil, Gas & Energy Conference & Exhibition (SOGCE) 2024, themed "Accelerating & Humanising Energy Transition and Digital Transformation in the Oil, Gas & Energy Industry."

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Organized by Midas Events Management (MEM), a subsidiary of Falconet Resources Sdn Bhd, the 11th SOGCE represents a significant milestone. MEM has been recognized with multiple awards, including the "Best Corporate Events Management Company - East Malaysia" at the APAC Insider South-East-Asia Business Awards 2021, the "Corporate Events Management Specialists of the Year" at the Corporate LiveWire Global Awards 2021/2022, and the Best Corporate Events Management Company 2023 - East Malaysia at the LUXLife Hospitality Awards 2023 by AI Global Media Ltd.

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The 11th SOGCE features a two-day conference scheduled for June 27th and 28th, 2024, at Sipadan Hall 1, Level 4, Sabah International Convention Centre (SICC), Kota Kinabalu, Sabah, Malaysia. Additionally, there will be a two-day exhibition running concurrently with the conference, located at Kinabatangan Hall 1, Level 2, SICC, Kota Kinabalu, Sabah, Malaysia.

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Energy transition refers to a structural shift of energy systems towards cleaner sources of energy.

 

This transition involves a shift from fossil fuel-dominated usage with high carbon emission intensity to a higher rate of RE usage and lower carbon emission intensity. Whilst energy transitions have occurred throughout history, the current energy transition is expected to occur at an accelerated pace. This is driven by rapid technological progress and strong climate change policies. The drive for enhanced environmental sustainability through GHG emissions reduction and green economy initiatives is being spearheaded by multiple stakeholders across governments, businesses and investors.

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That being said, according to the 2024 Economic Outlook report released by the Finance Ministry (MoF) today (October 13), the 'Just Transition" approach holds the promise of harmonising the issues as the nation grapples with the entwined challenges of achieving high-income nation status while managing its natural heritage as well as safeguarding the people. The report said that Guided by the principles of "Just Transitions" and the government of the day economy framework, Malaysia charts a development trajectory leading to a sustainable future that is comprehensive and environmentally conscious, through the equilibrium between economic growth, climate mitigation and adaptation as well as social justice.  With Malaysia's growing economy and population, coupled with increasing temperatures in the region, the energy sector will assume the most pivotal role in ensuring this just transition.

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The energy sector, which acts as the main driver of growth for the Malaysian economy, and energy-intensive industries contribute 28 per cent of Gross Domestic Product (GDP) and account for 25 per cent of the total workforce.

 

In addition, the energy sector is also a key source of national income with petroleum-related income contributing 31 per cent of fiscal income and energy exports constituting 13 per cent of total export value. The energy sector has strongly contributed to the national socioeconomic impacts, benefiting over 10 million customers with daily access to electricity supply and is a foundational enabler for people mobility through the reliable supply of various transport fuels. Jobs and business opportunities created in the energy sector as well as economic multipliers in energy-related supply chains have also contributed significantly to the quality of life and positive socioeconomic effects for the rakyat. (National Energy Policy, Malaysia (DTN))

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“Growth in the energy sector drives development in various adjacent industries, creating spin-offs through employment, capital inflows and investments, as well as supporting the energy service companies ecosystem.” (NETR)

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“The energy sector has long driven Malaysia's development and growth. Yet emissions have also increased in tandem with the country’s economic growth, necessitating an urgent need to transition towards a low carbon economy. This will involve meeting the country's climate commitment to cut 45% carbon intensity against GDP by 2030 compared to the 2005 baseline.” (NETR)

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“Effective energy transition management requires a whole-of-nation approach involving the federal governments, state governments, industry and general public, as well as the international community. This will coherence of policy planning and implementation in balancing the energy trilemma of security, affordability and environmental sustainability.” (NETR)

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“The National Energy Policy, 2022 - 2040 (DTN) lays the groundwork for a transformation in the energy landscape. It defines the energy transition as a structural shift in energy systems, characterised by a transition towards cleaner sources of energy, increased use of RE, and a significant reduction in carbon emissions. The energy transition is expected to occur at an accelerated pace, driven by rapid technological advances and robust climate change policies.” (NETR)

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Digital transformation has become critical for organisations to stay competitive, relevant, and succeed in today’s rapidly changing and technology-driven world.

 

Digital transformation in the oil, gas and energy industry refers to the process of using digital technologies to improve operations and business performance. The goal of digital transformation is to help oil, gas and energy companies become more agile, efficient, and competitive in a rapidly changing market.

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Digital transformation in the oil and gas sector has the potential to deliver annual cost savings of at least $130 billion from 2023 to 2030, based on overall capital and operational expenditures, according to an analytics report by Rystad Energy (March 2023).

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There are many different components of digital transformation, but some common examples include the use of data analytics to optimize production, the use of drones and robots for exploration and maintenance, and the use of virtual reality for training and simulations. Signifcant cost reduction can be attained through the implementation of data analytics, artifcial intelligence (Al), machine learning, the Internet of Things (loT), and digital twins.

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“The oil and gas sector continues to face unique challenges, which requires technology analytics, development, adoption and commercialisation to optimise the lifespan of indigenous oil and gas resources”. These technologies include:

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1. Technology for deepwater and ultra-deepwater fields;

2. Technology to ensure economical and environmentally sustainable production in sour gas fields; and

3. Enhanced oil recovery technology for mature fields

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“In addition, efforts to develop advanced technology and enhance technology adoption in growing demand areas such as sustainable exploration and production will be key, which can be leveraged to build regional leadership in the sector. Technologies to drive efficiency in operations will be enhanced such as the digitalisation adoption across the oil and gas value chain. These include the use of data analytics; artificial intelligence (Al) and machine learning (ML); integrated carbon capture, utilisation and storage (CCUS) facilities; as well as harnessing the potential of internet of things (loT) to enhance value creation and cost- competitiveness of domestic oil and gas production”. (DTN)

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The Sabah state government under the leadership of YAB Datuk Seri Panglima Haji Hajiji  emphasised and quoted as follows -

 

“We are equally serious in the recruitment and development of local talent in this sector. It is a key priority for Sabah,” said Hajiji at the 10th Sabah Oil, Gas and Energy Conference and Exhibition (SOGCE) at the Sabah International Convention Centre (SICC) here on Thursday (June 8).

 

The requirements for local content are aimed at creating jobs, promoting local enterprise development and accelerating the transfer of skills and technologies, particularly for the oil and gas sector, he added.

 

The Chief Minister said under the state’s investor-friendly Sabah Maju Jaya (SMJ) initiatives, Sabah is targeting to get additional upstream and liquified natural gas (LNG)-producing assets and will consider suitable green energy opportunities at the same time.

 

“While oil and gas will provide an important revenue stream for the state, we also welcome investors to explore renewables such as solar and storage technologies, hydro, geothermal, and also carbon market opportunities in Sabah,” said Hajiji.

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SOGCE stands out as the sole conference and exhibition dedicated to oil, gas, and energy in Sabah.

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SOGCE serves as a comprehensive industry platform, bringing together professionals, technologists, industry experts, and policymakers in the oil, gas, and energy sectors. This unique gathering facilitates networking and discussions on crucial industry matters, fostering growth and exploration of opportunities within the Sabah region. Additionally, SOGCE offers exhibitors a prime opportunity to showcase their products and services, contributing to the promotion of the oil, gas, and energy industry in Sabah. It aligns with the state government's efforts and encourages collaborations and partnerships, creating mutual benefits and opening doors for local contractors in Sabah to actively participate in the oil, gas, and energy sector.

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The 11th edition of SOGCE spans two full days, featuring a conference with engaging paper presentations, plenary sessions, and a concurrent 2-day exhibition. This exhibition highlights the latest equipment, technology, and solutions, demonstrating competitive advantages and competencies in the field. Notably, the conference and exhibition run in parallel, providing a comprehensive experience for attendees.

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Furthermore, the event includes the SOGCE Networking Golf, hosted by Midas Events Management (MEM) and organized by the Malaysian Oil, Gas & Energy Services Council (MOGSC).

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To enhance the overall value of SOGCE, a program tailored for young professionals will also be featured.