Petronas, through Malaysia Petroleum Management (MPM), has signed two memorandums of understanding (MoUs) to improve technology and operational efficiency in Malaysia’s exploration and production (E&P) sector. The agreements were made during the Abu Dhabi International Petroleum Exhibition and Conference 2024, held from November 4 to 7.
The first MoU with Schlumberger WTA (Malaysia) focuses on integrating AI and machine learning technologies into MPM’s data platform to enhance subsurface data management, supporting offshore operations and benefiting emerging petroleum arrangement contractors (PAC).
The second MoU with Velesto Drilling and NOV Inc aims to deploy NOV’s drilling automation and robotics systems on Velesto-operated rigs, optimizing operations, reducing costs, and supporting sustainability initiatives.
MPM senior vice-president Datuk Ir Bacho Pilong highlighted that these partnerships will drive digital transformation and innovation in Malaysia’s E&P sector, benefiting small and late-life asset PACs while fostering industry growth.
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