Upstream oil and gas service provider Sapura Energy Bhd, which has secured new jobs worth RM6.3 billion this year, expects activity levels to remain subdued in the near term and competition to remain intense, despite a rebalancing of supply and demand dynamics triggering a return in investment appetite.

If 2016 was a year of tough decisions for the oil and gas (O&G) industry, then 2017 could be the road to recovery, says Deputy Prime Minister Datuk Seri Dr Zahid Hamidi.