Petronas forms regional alliance to boost offshore oil recovery
The Malaysian energy giant has signed an MoU with regional E&P operators and a university to jointly evaluate enhanced oil recovery in offshore acreages
Petronas has signed a memorandum of understanding with regional exploration and production operators and Universiti Teknologi Petronas to jointly evaluate opportunities to enhance oil recovery in offshore acreages.
The agreement, concluded through Malaysia Petroleum Management, was signed by Petronas, Petronas Carigali, Universiti Teknologi Petronas, PTTEP and Pertamina.
Under the MoU, the parties will draw on the combined operating experience and technical expertise of Petronas Carigali, PTTEP and Pertamina, alongside UTP's specialised research capabilities and laboratory facilities.
The collaboration will focus on developing fit-for-purpose oil recovery studies supported by laboratory testing, with the potential to mature selected technologies and concepts towards pilot implementation.
"By integrating subsurface insights, high-performance computing and operators' capabilities, we aim to accelerate the maturation of fit-for-purpose solutions, unlock additional value from mature fields and strengthen long-term energy resilience through cross-border collaboration," said Bacho Pilong, senior vice president of Malaysia Petroleum Management.
The signatories aim to speed the deployment of practical recovery solutions, strengthen regional technical capabilities and support sustainable resource development across offshore basins.
In parallel, Petronas, through MPM, unveiled the Digital Intelligence Centre (MDIC), reinforcing MPM's role as Malaysia's upstream resource custodian and underlining its push to institutionalise a data-driven culture and advance digital innovation across the country's upstream sector.
