KUALA LUMPUR (Nov 23): Petroliam Nasional Bhd (Petronas) is seeking to participate in more non-traditional partnerships or partnerships that explore unconventional solutions to help reduce costs, gain efficiency and hedge risks.

“It is critical to find energy solutions that reach out to non-traditional partners, as well as traditional partnerships that explore unconventional solutions. 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,” its president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said in a statement today.

He believes that the key to the sustainability of the oil and gas (O&G) industry lies in players moving into untapped and uncharted avenues for collaboration, across industries to find solutions that effectively harness O&G resources to meet the growing demand for sustainable clean energy.
 
Wan Zulkiflee cited the national oil company's involvement in motorsports as being the technical partner to the Mercedes AMG Petronas Formula One Team as 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.

Its partnerships with the fast moving consumer goods industry is also another cross-industry collaboration that explores non-traditional solutions specifically for Petronas’ retail business, he added.
 
"In addressing industry concerns, Petronas has been looking beyond conventional ways of partnerships through further collaboration with stakeholders within its integrated value chain," said Wan Zulkiflee.

“Petronas’ active participation in the Asean Council on Petroleum, for instance, is a platform to enhance the regional cooperation for technology and knowledge transfer in pushing forward the gas advocacy agenda.

"We are also exploring initiatives such as decommissioning and abandonment within the region with other national oil corporations such as PTT and Pertamina — another example of existing partners seeking novel solutions," he added.