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  

About PETRONAS:
 
PETRONAS is a dynamic global energy group with presence in over 100 countries. The Group produces and delivers energy and solutions that power society’s progress in a responsible and sustainable manner.
 
PETRONAS seeks energy potential across the globe, optimising value through its integrated business model. Its Group portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.
 
Sustainability is at the core of what the Group does, as it harnesses the good in energy to elevate and enrich lives. People are its strength and partners for growth, driving passion for innovation to progress towards the future of energy sustainability.
 
About FourPhase AS:
 
FourPhase is a leading provider of sand management solutions systems for the oil and gas industry. Focusing on advancing technology and sustainability through innovation, FourPhase develops systems to help its customers overcome the challenges of sand management production and achieve greater efficiency and profitability.
 
With remotely operated systems, its digital production solutions give customers accurate real-time sand management data to continuously tune well performance to avoid intervention and significantly reduce the cost per barrel of production.

For more information please visit FourPhase.com

Issued by
 
Media Communications Department
Group Strategic Communications
PETRONAS
 
SOURCE: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Estee Aina Huslan
Tel: +6012 228 3377   
Email: esteeaina.huslan@petronas.com 

--BERNAMA