PETRONAS Enhances E&P Technology with Two New MOUs

PETRONAS, via Malaysia Petroleum Management (MPM), has entered into two Memoranda of Understanding (MoUs) to boost technological advancements and operational efficiencies in Malaysia's Exploration and Production (E&P) industry.

The MoUs were signed at the 2024 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), held from November 4-7 in Abu Dhabi.

The first MoU, with Schlumberger WTA (Malaysia) Sdn Bhd (SLB), aims to strengthen technical capabilities in artificial intelligence (AI), machine learning (ML), and generative AI technologies. Through this collaboration, AI-driven solutions will be integrated into MPM's data platform to transform the management and interpretation of subsurface data, enhancing support for Malaysia’s offshore operations and adding value for emerging Petroleum Arrangement Contractors (PACs).

The second MoU, signed with Velesto Drilling Sdn Bhd (Velesto) and NOV Inc (NOV), establishes a framework to implement NOV's drilling automation and robotics technology on Velesto-operated rigs. This partnership aims to improve drilling operations in Malaysia by enhancing efficiency, reducing costs, and advancing PETRONAS' sustainability goals. Additionally, it will drive technology adoption and promote innovative solutions in Malaysia’s upstream sector.

Senior Vice President of MPM, 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 PACs, especially emerging players and new investors. Through these partnerships, we build a strong ecosystem to enable access to our PACs. The discussion to pilot the SLB’s data and AI platform has already generated strong interest among our Small Field Asset (SFA) and Late Life Asset (LLA) PACs”.

PETRONAS remains committed to ensuring a secure and sustainable supply of oil and gas for Malaysia’s energy needs, while actively advancing low-carbon and low-emission operations to achieve net zero emission by 2050.