Malaysia Petroleum Management (MPM), an affiliate of Malaysia’s state-owned energy giant Petronas, has hosted a two-day event to explore deepwater opportunities through innovative solutions.
The firm explored the next chapter of deepwater innovation at the event, focusing on technology expansion, collaboration, and integrated surveillance solutions to balance the need for continued exploration and production to meet the world’s energy demand while cutting emissions. The theme of this edition was “Unleashing Deepwater Values via Innovative Solutions.”
Some innovative technologies presented include deepwater pipelay technology, collaborative robot (COBOT), subsea factories, and pseudo-dry gas (PsDG). Deep learning and artificial intelligence (AI) opportunities in a variety of applications were also explored.
According to the energy giant, 116 deepwater wells have been drilled in Malaysia, with more than 6 billion barrels of oil equivalent (boe) waiting to be discovered, indicating there are more opportunities in deepwater to be unlocked. Sabah and Sarawak regions are thought to have the greatest potential in this regard.
With current deepwater fields contributing to Malaysia’s production at around 30%, the firm thinks innovative breakthroughs and industrial collaboration are paramount in securing the long-term sustainability and future expansion of its deepwater assets.
“Despite the established success of deepwater development and production, noticeable gaps persist in the maturation of our prospects and exploration drilling, primarily due to subsurface uncertainties and challenges in drilling operations. Achieving growth necessitates economically viable solutions, underscoring the importance of robust risk and uncertainty management, fostering industrial collaboration, and leveraging contracting synergies,” said Petronas’ Budi Mawardi Nasron .
Petronas says it is committed to advancing growth in deepwater and ultra-deepwater opportunities by offering deepwater industry collaboration (DW-ICON) backed by favorable fiscal terms and strategic partnerships. By focusing on more efficient development and production strategies, the energy giant aims to establish Malaysia as a regional deepwater hub. The firm claims to be continuously committed to operational efficiency and efficient resource management.
The main topics of interest included revolutionizing deepwater exploration and drilling solutions, revitalizing deepwater project management and production operations, and emerging deepwater technology breakthroughs.
Regarding the first topic, since innovative practices are thought to be the main drivers for evaluating the potential of deepwater regions, they can be used to improve the understanding of their geological attributes at a regional level. Operational workflow optimization is seen as a means for boosting the efficiency of costs and water exploration endeavors.
As for project management, an innovative approach is believed to be essential in deepwater projects’ development strategy, underpinned by a comprehensive production operation philosophy aimed at sustainable production. Emphasizing cost optimization is seen as a way to revitalize dormant deepwater marginal resources.
Regarding innovations in deepwater technology advancement and deployment from wells to surface designing, they are thought to have a role in increasing deepwater assets’ value. Furthermore, promoting data analytics automation and machine learning are seen as methods to speed up decision-making in overall project management.
Meanwhile, the liquefied natural gas (LNG) the Malaysian firm is developing in Canada’s Kitimat with partners Shell, PetroChina, KOGAS, and Mitsubishi – LNG Canada – is getting closer to starting operations . Earlier this month, it was announced that natural gas would be introduced to the Kitimat facility for the first time, followed by a small flare pilot.