Established in May 2020. MOGS plans to offer an innovative state-of-the-art technology solution on well services. The company aims to collaborate with Production Sharing Contract (PSC) operators under their well reactivation programme for idle wells in Malaysia.
“We see much potential in the company’s business model. Plus, the acquisition will also help ensure MOGS is able to deliver returns to its shareholders,” YPKM board of trustee member Datuk Wira Jalilah Baba pointed out.
Yayasan Pesara Kerajaan Malaysia (YPKM) has acquired a 30 per cent stake in start-up Mulk Oil & Gas Synergy Sdn Bhd (MOGS), for an undisclosed amount.
As the oil and gas industry has been impacted by a double blow of COVID-19 pandemic and low oil prices, start-up Mulk Oil & Gas Synergy Sdn Bhd (MOGS) enters the Malaysian market to offer their expertise in reviving idle oil wells in Malaysian waters.
