PETRONAS, SCHLUMBERGER EXPLORE OPPORTUNITIES IN SUSTAINABILITY, DIGITAL, IOT, R&D

KUALA LUMPUR, March 24 (Bernama) -- Petroliam Nasional Bhd (Petronas) has signed a memorandum of understanding (MoU) with Schlumberger WTA (Malaysia) Sdn Bhd (Schlumberger) to jointly explore opportunities in the areas of sustainability, digital and Internet of Things (IoT) technologies, as well as research and development (R&D) projects.

Under the MoU, Petronas and Schlumberger will perform key sustainability initiatives such as the setup of a Carbon Capture and Storage (CCS) Centre of Excellence, encompassing a cloud-based data repository for carbon storage, carbon dioxide (CO2) separation technologies and competency development programme, as well as emission management.

“Petronas and Schlumberger have a long-standing partnership and we look forward to leveraging Schlumberger’s capabilities to develop reliable, safe and ready-to-deploy technologies that reduce the carbon footprint in our upstream operations, while developing the right capability framework, as well as efficient data repository.

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"We are confident that this collaboration will further inspire more innovative solutions towards managing carbon emissions that support our aspiration to achieve net zero carbon emissions by 2050," said Adif Zulkifli, Petronas executive vice-president and chief executive officer of upstream.

Petronas is also pursuing more zero continuous flaring and venting of hydrocarbons by applying technology that lowers emissions across the value chain.

The company is undertaking deliberate steps to build a resilient and sustainable portfolio to support the transition towards low-to-zero carbon energy sources.   

-- BERNAMA