Kuala Lumpur, 17 November 2021 – PETRONAS Technology Ventures Sdn Bhd (PTVSB) today signed a Commercialisation Agreement with Sumisaujana TCM Chemicals Sdn Bhd (SSTCM) to commercialise PETRONAS’ proprietary corrosion inhibitor technology, Corrosion Inhibitor 4 (CI4).
CI4, a technology to suppress corrosion in steel pipelines to an acceptable limit, is poised to be an effective solution for the energy industry to facilitate natural gas transportation from high carbon dioxide (CO2) gas fields. This technology also serves as an enabler for the carbon capture, utilisation and storage (CCUS) initiatives specifically in the area of transportation.
PTVSB Chief Executive Officer, Dr Mahpuzah Abai and SSTCM Executive Director, Toh Chee Seng signed the agreement at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2021. The event was attended by PETRONAS Senior Vice President of Project Delivery and Technology, Bacho Pilong and SSTCM Operations Director, Ramli Mohamad.
Commenting on the collaboration, Bacho said, “PETRONAS believes innovation is the force behind our tireless research and development for technological solutions that tackle the roadblocks to cleaner energy. We are proffering our proprietary CI4 as an effective way to address the corrosive nature of high CO2 fields to bring sustainable natural gas supply to the people, and we are delighted to have SSTCM on board as our progressive commercialisation partner.
“We are confident that SSTCM, with its good track record, capabilities and credibility, will effectively expand the reach of CI4 in the marketplace to benefit our stakeholders and industry counterparts who share the same passion for sustainability,” he said.
Both parties have mutual interests and individual strengths to synergistically develop, manufacture, market, deploy, and provide comprehensive solutions to the energy market and beyond.
Toh said, “SSTCM is tremendously honoured and excited to be given the opportunity to be part of this CI4 commercialisation. Combining PTVSB’s innovation and our global sales presence, we believe that together we can make significant inroads into uncharted markets.
“Manufacturing products sustainably with an emphasis on Health, Safety, Security and Environment has been a key principle SSTCM prides upon, which PETRONAS shares with its many initiatives. We hope this will be a stepping stone to other collaborations on sustainable solutions,” he added.
SSTCM currently has collaborative agreements with PETRONAS’ subsidiaries Melaka Refining Company Sdn Bhd (MRCSB), PETRONAS Carigali Sdn Bhd (PCSB) and Pengerang Refining Company Sdn Bhd (PRefChem). SSTCM also manufactured a chemical developed by PETRONAS Research Sdn Bhd (PRSB) and collaborated with PETRONAS Chemicals Group Berhad (PCG) on chemicals development and manufacturing.
In support of energy transition and in line with its carbon-neutral aspirations, PETRONAS is steadfast in driving advancement in technology, digitalisation, and data insights to deliver sustainable energy solutions for industries and communities. Its subsidiary, PTVSB, has more than 300 technologies in its pipeline, ready to be deployed in the marketplace along with more than 3,000 intellectual properties to be explored for monetisation purposes.