Malaysian energy company to collaborate for offshore oil recovery

The state-owned oil and gas giant Petronas recently signed a new memorandum of understanding (MOU).

Completed via Malaysia Petroleum Management, the document outlines an agreement with regional production and exploration operators to jointly evaluate potential opportunities for enhanced and improved oil recovery in offshore territories.

The MOU was signed by Petronas and multiple entities including Petronas Carigali, PT Pertamina Malaysia Eksplorasi Produksi, Sarawak Oil, UTP and Sabah Oil.

The initiative seeks to explore opportunities to extend field life, enhance recovery factors and unlock further value from offshore assets using enhanced oil recovery (EOR) and improved oil recovery (IOR) technologies.

As per the terms of the agreement, the signatories will combine the technical expertise and operational experience of Petronas Carigali, Sarawak Oil, Sabah Oil and Pertamina Malaysia Eksplorasi Produksi with the laboratory facilities and research capabilities of UTP.

The collaboration will centre on producing fit-for-purpose EOR and IOR studies with support from lab testing, with chosen concepts and technologies potentially progressing to a pilot programme implementation.

The parties involved commented that the work is designed to accelerate the rollout of recovery solutions, bolster regional technical capabilities and back the development of sustainable resources across offshore acreages.

A frequent collaborator, Petronas often connects with other companies to access wider capabilities. The Malaysian oil titan also supplies high-quality lubricant products globally in more than 100 markets, including the UK. With an extensive range to its credit, it offers advanced cutting fluid, transformer oil, grease and turbine oil among many other solutions.

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