Dr Mahpuzah Abai, CEO of PTVSB (seated, left) and Øyvind Heradstveit, CEO of FourPhase (seated, right) at MoU signing ceremony in Bergen, Norway.
KUALA LUMPUR, June 6 (Bernama) -- PETRONAS Technology Ventures Sdn Bhd (PTVSB), the technology commercialisation arm of PETRONAS and FourPhase AS, an industrial technology company specialising in solids separation, 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 Chief Executive Officer (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, "We are pleased to partner with FourPhase on this significant initiative, as it aligns with PETRONAS’ unwavering commitment to sustainability and safeguarding the environment.
"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,” he added.
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.
Commenting on the successful collaboration with PETRONAS, Heradstveit said, “We take pride in our partnership with PETRONAS. We are delighted to continue to join PETRONAS on their sustainability journey to advance sand management solutions for the oil and gas industry.
"This MoU signifies our strong relationship and a firm commitment to continued collaboration. We aim to enhance our joint efforts in developing innovative solutions and driving progress in the field of sand management. We are confident that this strategic partnership will yield mutual benefits, foster growth and contribute to the long-term sustainability of the oil and gas industry,” he added.
For more information on PTVSB, visit Tech Ventures | Innovation Gateway @ PETRONAS
