Petronas signs pacts to advance technology, operational efficiency in E&P sector

PETALING JAYA: Petroliam Nasional Bhd (Petronas), through Malaysia Petroleum Management (MPM), has signed two memorandums of understanding (MoU), to advance technology and operational efficiency in Malaysia’s exploration and production (E&P) sector.

The signing was held during the Abu Dhabi International Petroleum Exhibition and Conference 2024, which took place from Nov 4 to 7.

The first MoU, signed with Schlumberger WTA (Malaysia) Sdn Bhd (SLB), focuses on enhancing technical capabilities in artificial intelligence (AI), machine learning (ML) and generative AI technologies.

This partnership aims to integrate cutting-edge, AI-driven solutions into MPM’s data platform, revolutionising the management and interpretation of subsurface data. The collaboration will support Malaysia’s offshore operations, delivering enhanced value to emerging petroleum arrangement contractors (PAC).

The second MoU, with Velesto Drilling Sdn Bhd and NOV Inc, establishes a framework to deploy NOV’s drilling automation system and robotics technology on Velesto-operated rigs.

This collaboration seeks to optimise drilling operations in Malaysia by improving operational efficiency, lowering costs and supporting Petronas’ sustainability initiatives. Additionally, the partnership aims to drive technology adoption, promoting innovative solutions across Malaysia’s upstream sector.

MPM senior vice-president Datuk Ir Bacho Pilong said, “These strategic collaborations with SLB, Velesto and NOV signify a leap forward for MPM and Malaysia’s E&P sector. By embracing digital transformation, we are not only enhancing operational efficiency but also paving the way for next-generation data solutions that bring substantial value to our PAC, especially emerging players and new investors. Through these partnerships, we build a strong ecosystem to enable access to our PAC. The discussion to pilot the SLB’s data and AI platform has already generated strong interest among our small field asset and late life asset PAC”.