Hess has joined with five other energy companies in Malaysia to help develop local businesses so they can become successful vendors to the oil and gas industry.
The initiative, known as VDPx, was launched by PETRONAS to expand and promote sustainable local vendor development, particularly among the Malay indigenous people.
Vendors chosen by each of the participating anchor energy firms will be supported in the areas of business development, financial management and technical capabilities, and their performance in the field will be closely monitored and reported to VDPx companies at quarterly meetings.
"I believe it is important for us to support this national initiative by helping PETRONAS develop small- and medium-sized companies in the oil and gas industry. It is a good way for us to give back to a nation where we have had great success," said Zaidi Hashim, Senior Manager Supply Chain.
The VDPx initiative is part of PETRONAS’ Vendor Development Program established in 1993, which has helped 99 local companies including some that have gone on to work internationally as major vendors in their field.