It’s time for O&G players to explore unconventional solutions

  • Business
  • Monday, 26 Nov 2018

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the group would continue its efforts to improve its operational efficiency and transformation initiatives, albeit a recovery in crude oil prices. - Filepic

KUALA LUMPUR: Oil and gas (O&G) industry players should move into the untapped and uncharted avenues for collaboration and find solutions that effectively harness O&G resources to meet the growing demand for sustainable clean energy.

Petroliam Nasional Bhd (Petronas) president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said greater demand for sustainable living at the global and consumer level, as well as rapid advancements in digital technology had immensely changed the environment the industry operates in.

“It is critical to find energy solutions that reach out to non-traditional partners, as well as traditional partnerships that explore unconventional solutions which help reduce costs, gain efficiency and hedge risks.

“It is also equally important to facilitate shifts in mindset that would provide the impetus for creativity and innovation to find solutions that are needed to move forward,” he said in a statement in conjunction with the Abu Dhabi International Exhibition and Conference 2018 recently.

Petronas’ involvement in motorsports as technical partner to the Mercedes-AMG Petronas Formula One Team is one of the company's drive towards non-traditional partnerships where it provides a platform to build technical expertise, expand quality product range, as well as develop capability and talent. – Bernama

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