KUALA LUMPUR (June 25): Petronas Chemicals Marketing (Labuan) Ltd (PCML), a wholly-owned subsidiary of Petronas Chemicals Group Bhd (PCG), and Scomi Oiltools Sdn Bhd, a unit of Scomi Energy Services Bhd (SESB), have inked two agreements for collaboration in research, development and marketing of chemical solutions.

The first agreement is to formalise the ongoing research and development of chemical solutions mainly targeted for the oil and gas industry, which has been ongoing since 2016.

Meanwhile, the second agreement is for the commercialisation of a high performance water-based mud additive — the first product developed under the collaboration.

The additive, developed at Scomi's Global Research and Technology Centre in Shah Alam, is designed to improve shale inhibition in offshore and on-shore drilling activities.

In a statement today, PCG managing director and chief executive officer Datuk Sazali Hamzah said the partnership is advantageous for both PCG and Scomi, as it will enable them to come together in creating innovative and sustainable solutions for their respective customers.

"At PCG, the desired outcome of our product innovation is to create products for the marketplace that address the needs of our customers. This approach ensures our relevance in the industry, and our role as a market leader," Sazali added.

SESB chief executive officer Hilmy Zaini said: "We are happy to continue the collaboration with PCML to develop more newly efficient and commercially viable products, which will enhance the drilling and exploration processes. Our focus now is to promote the high performance water-based mud additive in both domestic and global markets."