PETRONAS HARNESSES AI FOR DATA-DRIVEN INVESTOR DECISIONS IN MALAYSIA’S E&P SECTOR

KUALA LUMPUR, Nov 6 (Bernama) -- Petronas, through Malaysia Petroleum Management (MPM), has partnered with Earth Science Analytics (ESA) and Amazon Web Services (AWS) to leverage advanced artificial intelligence (AI) and machine learning (ML) technologies to accelerate exploration efforts in the Malay Basin and enhance data capabilities of the Petronas myPROdata platform.

The national oil company said the web-based platform provides subscribers access to Malaysia’s exploration and production (E&P) data.

MPM senior vice president Datuk Bacho Pilong said these collaborations are pivotal in reinforcing Petronas’ commitment to innovation as it gears up for the Malaysia Bid Round (MBR) 2025.

“By leveraging advanced AI and ML capabilities, we aim to empower our investors and Petroleum Arrangement Contractors with richer data insights and more streamlined processes, driving smarter decision-making and ensuring a more efficient, impactful bid round for all participants," he said in a statement.

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 in early 2025 in Kuala Lumpur.

Petronas said MPM would be partnering with ESA to explore cutting-edge AI and ML geoscience technology.

This initiative would focus on developing AI-driven subsurface workflows using ESA’s EarthNET platform and Petronas myPROdata to boost subsurface data analytics and interpretation, leading to optimisation of hydrocarbon exploration in the mature Malay Basin, offshore Peninsular Malaysia.

Petronas said it would work with AWS 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 the Petronas myPROdata platform, enabling potential investors to make better data-driven decisions in Malaysia’s E&P sector, it added.

-- BERNAMA