Petroliam Nasional Berhad - Digital transformation strategies

Petroliam Nasional Berhad - Digital transformation strategies

Summary

This report provides insight into Petronas's tech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Petroliam Nasional Berhad (Petronas) is an integrated energy company engaged in exploring, developing, and producing crude oil and natural gas. The company’s business segments include Upstream, Downstream, Gas, Clean Energy Solutions and Project Delivery & Technology. The Upstream segment is engaged in exploring, producing, and developing oil and gas resources. The Downstream segment is engaged in refining, marketing and trading crude oil and petrochemical products, gas processing and transportation, producing and marketing petrochemical products, power generation, and providing engineering and technical solutions.

In November 2022, PETRONAS launched its Artificial Intelligence Centre of Excellence (AI CoE) to accelerate advancement in AI solutions that supports energy delivery, operational efficiency, and sustainability, through collaboration with a network of global partners. In the initial round of collaborations, PETRONAS has signed memorandum of understanding (MoUs) with Baker Hughes, Boston Consulting Group (BCG) and Microsoft, under which PETRONAS will work with these partners to innovate, develop, and potentially commercialise AI solutions by leveraging each other’s technologies, expertise, and experience.

In June 2023, PETRONAS signed a memorandum of understanding (MoU) with Tabung Ekonomi Gagasan Anak Sarawak (TEGAS) to collaborate on creating digital jobs and talent upskilling through newly established PETRONAS Regional Delivery Centre in Sarawak. The center set up at the TEGAS Digital Innovation Hub in Kuching will generate digital jobs for local talent and serve as a launchpad for developing the region's digital ecosystem.

Scope

• To prevent unplanned equipment downtime that might lead to the shutdown of an entire plant, Petronas adopted AVEVA Predictive Analytics, a cloud-based, AI-driven asset performance management solution (APMS) that alerts maintenance staff about impending equipment breakdown in advance. The APMS is synced with AVEVA’s PI system which collects and structures data from key equipment in a plant. The AI-based APMS uses the data to highlight impending failures or anomalies, allowing staff to take up predictive maintenance works.
• Petronas has completed numerous 5G initiatives to explore the possibility of using 5G networks for fully operating offshore platforms from an onshore control center. The company adopted 5G private network at its Regasification Terminal Sungai Udang (RGTSU), to optimize its internal operations and drive industry-wide transformation. Combining 5G with IoT, AI, and automation, PETRONAS aims to meet the demands of supplying safe, reliable, cost-optimized and emission abated energy solutions for its customers.
• Petronas developed a cloud-based operations dashboard in collaboration with Amazon Web Services (AWS) that will process data collected by Internet of Things (IoT) devices installed along the supply chain and provide actionable insights to managers. The company has also collaborated with several cloud providers, including AWS, on analytics projects to achieve data transparency and provide sales teams with market insights.

Reasons to Buy

• Gain insights into Petronas's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, investments, and acquisition strategies.