PETRONAS Technology Ventures Sdn Bhd (PTVSB) have formed a partnership to advance sustainable sand management technologies in the oil and gas industry.
A Memorandum of Understanding (MoU) for Collaboration was inked recently in Bergen, Norway between PTVSB CEO, Dr Mahpuzah Abai, and FourPhase CEO, Øyvind Heradstveit.
The collaboration will explore sand solutions that can increase crude oil output, mitigate erosion, ensure process safety and reduce downtime, among others. The goal is to deliver safe, reliable and cost-competitive energy offerings to customers.
PETRONAS Vice President of Group Technology and Commercialisation, Aadrin Azly said, “Sand management is a complex and ever evolving challenge in the oil and gas industry. With the collaboration, we are confident that we can work together to find the best possible solutions and make significant strides in this area, paving the way for a more sustainable future.”
The MoU marks another significant milestone in PTVSB’s pursuit of enhancing its technology portfolio by leveraging intellectual properties while expanding the reach of PETRONAS’ solutions through strategic commercialisation.
Since 2018, FourPhase and PETRONAS have achieved an industry milestone in jointly developing an autonomous bulk desander system for an unmanned installation.
