PETRONAS Harnesses AI for Data-Driven Investor Decisions in Malaysia's E&P Sector

2024 Media Release - 5 Nov

Abu Dhabi, 5 November 2024 - PETRONAS through Malaysia Petroleum Management (MPM) partners with Earth Science Analytics (ESA) and Amazon Web Services (AWS) to leverage on advanced Artificial Intelligence (AI) and Machine Learning (ML) technologies in accelerating exploration efforts in the Malay Basin and enhancing data capabilities of PETRONAS myPROdata platform. This web-based platform provides subscribers access to Malaysia's exploration and production (E&P) data.

MPM will be partnering with ESA to explore cutting-edge AI and ML geoscience technology. This initiative will focus on developing AI-driven subsurface workflows using ESA's EarthNET platform and PETRONAS myPROdata to boost subsurface data analytics and interpretation, leading to optimization of hydrocarbon exploration in the mature Malay Basin, offshore Peninsular Malaysia.

The partnership established with AWS is a collaboration to enhance PETRONAS myPRODATA platform through AI and data analytics. AWS will work with PETRONAS to implement advanced AI and ML functionalities, improving user experience and streamlining data management processes. The integration of this advanced AI and ML tool will significantly enhance the operational capabilities of PETRONAS myPROdata platform, enabling potential investors to make better data-driven decisions in Malaysia's E&P sector.

Senior Vice President of MPM, Datuk Ir. Bacho Pilong said, "These collaborations are pivotal in reinforcing PETRONAS' commitment to innovation as we gear up for Malaysia Bid Round (MBR) 2025. By leveraging advanced AI and ML capabilities, we aim to empower our investors and Petroleum Arrangement Contractors (PACs) with richer data insights and more streamlined processes, driving smarter decision-making and ensuring a more efficient, impactful bid round for all participants."

The MBR is an annual licensing round offering diverse upstream opportunities to potential investors and it includes exploration acreages, Discovered Resource Opportunities and late life producing assets across Malaysia. The next MBR 2025 is scheduled to be held early 2025 in Kuala Lumpur.

PETRONAS is committed to ensuring optimal and sustainable supply of oil and gas for the nation's energy security, while pursuing deliberate efforts towards achieving low-carbon and low-emission operations, in line with our goal of achieving net-zero emission by 2050. For more information on oil and gas investment opportunities in Malaysia, please visit https://www.petronas.com/mpm/

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