JOGMEC has signed a memorandum of understanding (MOU) with Thailand’s PTTEP for developing new technologies to enhance o&g production efficiency.
JOGMEC said on Thursday that the MoU with PTTEP was signed on March 8.
To achieve this, the duo agreed to conduct joint studies and develop technology in the area of reservoir monitoring, which could speed up development and enhance production on PTTEP’s owned and operated oil and gas fields.
According to conditions of the MOU, the Japanese company will progress technology development in reservoir monitoring by conducting field tests at PTTEP operated oil and gas fields.
The Japanese company said it aimed to eventually apply such technologies to other oil producing regions important for Japan’s national security.
JOGMEC also added that it was strengthening its relationships with oil producing countries by developing new technologies and proposing solutions to address different technical challenges faced by oil companies.