News - Press Release


News | August 22 2017

Petronas inks parternship deals with TechnipFMC and Setgap ventures petroleum Creative partnerships to bring solutions for oil and gas business challenges

KUALA LUMPUR, Aug, 23 – PETRONAS Research Sdn. Bhd. (PRSB) a unit under Petroliam Nasional Bhd and its subsidiary PETRONAS Technology Ventures Sdn. Bhd. (PTVSB), signed two collaboration agreements with industry partners, TechnipFMC  & Setegap Ventures Petroleum Sdn Bhd. 
The signing of the Head of Agreement between TechnipFMC with PETRONAS Research Sdn Bhd and PETRONAS Technology Venture Sdn Bhd will provide the company’s best technology, expertise, personnel, assets and facilities to explore and develop new process-related technologies. 
Under the Head of Agreement, the two parties will collaborate to further develop PETRONAS’ proprietary technologies such as PN2 Membrane, eWAG technology and Novel Offshore Sand Disposal, with the aim to further develop PETRONAS Technology Processes and its commercialization. 
Rune Thoresen, President Subsea Projects Asia Pacific, TechnipFMC in his speech at the signing ceremony said “Even before today’s event which formalizes the collaboration between the two Parties, we have been working closely with PETRONAS since the early 80s in Malaysia, delivering many groundbreaking solutions, and recently, the first Floating LNG- PETRONAS FLNG SATU.” 
He added “I’m confident that the synergies forged from our strong presence, delivery and relationship with PETRONAS would give us a head start in Dulang B, the Agreement’s first field for gas conditioning and testing of PN2 Membrane.”
In the same ceremony, another tripartite agreement was signed between a local well stimulation work specialist, Setegap Ventures Petroleum Sdn. Bhd. with PETRONAS Research Sdn Bhd and PETRONAS Technology Ventures Sdn. Bhd. to deploy the Reinforced Thermoplastic (RTP) Technology.
Under this Joint Technology Delivery & Commercialisation agreement, Setegap Ventures Petroleum Sdn. Bhd. will collaborate with PRSB on research, commercialization, support and cost-efficient deployment of Reinforced Thermoplastic (RTP) technology to maturation, Technology Readiness Level 7 (TRL) 7 from its current status, TRL 5.
The RTP technology which was first developed by PRSB relates to the use and installation of Reinforced Thermoplastic pipes with corrosion resistant properties and improved tubular strength, intents to revive and safeguard production, resulting a cost saving of up to 80% compared to conventional methods.
At the signing ceremony, Setegap Ventures Petroleum Chief Executive Officer, Dato’ Che Nazahatuhisamudin Che Haron said,“The RTP is one such good example of how technology can play a big role in cost and time efficiency. PRSB has developed world’s first non-metallic Reinforced Thermoplastics technology” He also added “our plan is to refine the RTP technology so that it can be marketed and deployed not only in Malaysia, but exported globally.”
(Dr. Nasir’s Quote)
According to PETRONAS Senior Vice President of Project Delivery and Technology, Mazuin Ismail, “the signing of agreements today aim to open and deepen the technology collaboration between PETRONAS and its partners in the service industry whilst supporting the ongoing PETRONAS development strategy of Collaboration, Pace & Digital.
Issued by
Media Relations Department
Group Strategic Communications (GSC)