HOW PETRONAS HAS LEVERAGED INNOVATION AND TECHNOLOGY TO OPTIMIZE RESOURCE UTILIZATION IN TURKMENISTAN, PARTICULARLY ACHIEVING ZERO DOWNTIME IN THE PAST THREE MONTHS?

 

At PETRONAS, innovation and technological advancement are at the heart of our operations. In Turkmenistan, we've adopted several cutting-edge technologies to enhance efficiency and productivity. For example, for the very first production of hydrocarbons from Block 1, to comply with Turkmenistan’s environmental regulations and introduce sustainable solution, Extended Well Test (EWT) Program utilizing Mobile Offshore Production Units (MOPU) and Floating Storage Offloading (FSO) systems had been introduced and utilized until the production seized.

 

Achieving zero downtime over the past three months is a testament to our robust operational strategies and continuous investment in state-of-the-art equipment and training. We’ve implemented real-time facilities monitoring systems and centralized databases, which allow us to promptly address any issues and ensure seamless operations. This proactive approach has been critical in maintaining our uptime and operational excellence.

 

​

PETRONAS HAS BEEN PRESENT IN TURKMENISTAN FOR OVER TWO DECADES. HOW HAS THIS PARTNERSHIP EVOLVED, AND WHAT SHARED OBJECTIVES BETWEEN TURKMENISTAN AND MALAYSIA HAVE DRIVEN PETRONAS’ SUSTAINED INVESTMENT AND OPERATION IN THE REGION?

 

Our partnership with Turkmenistan has indeed been a fruitful and evolving journey. Since our inception in 1996, we have built a relationship based on mutual trust and shared objectives. Both Turkmenistan and Malaysia are committed to harnessing natural resources for sustainable economic development. This shared vision has driven our collaboration and sustained investments in the region. Turkmenistan’s vast energy resources combined with PETRONAS’ technological expertise have created a synergy that benefits both parties. Our continuous investments, such as the development of the Gas Treatment Plant and Onshore Gas Terminal (GTPOGT) in Kiyanly, have significantly enhanced Turkmenistan’s gas processing capabilities. These projects underscore our commitment to long-term partnership and development in Turkmenistan.

 

Our operations in Turkmenistan are a cornerstone of our global upstream business strategy, ranking among our top five investments worldwide. This strategic positioning underscores the critical importance of our work in Turkmenistan, both in terms of resource potential and strategic value. The country’s rich hydrocarbon reserves and our long-standing partnership have enabled us to achieve significant milestones and drive substantial investments, amounting to billions of dollars. These efforts not only highlight our commitment to maximizing resource efficiency and technological innovation but also reflect our dedication to fostering sustainable development and mutual growth in the region.

 

​

WITH THE CURRENT LICENSE SET TO EXPIRE IN 2028, WHAT ARE PETRONAS’ STRATEGIC OBJECTIVES FOR THE REMAINING FOUR YEARS? HOW DO YOU PLAN TO SUSTAIN AND INCREASE OPERATIONS, AND COULD YOU SHARE ON THE PROJECTED INVESTMENTS?

 

As we approach the end of our current license period, our strategic objectives are focused on sustaining and enhancing our operations. We are committed to continuing our investments in technology and infrastructure to ensure optimal performance. Since the beginning of our operations, we have invested $11.5 billion in Turkmenistan, one of the largest investments that PETRONAS made in a single country. With $190 million planned for 2024 and an expected $200 million in 2025, our yearly operational expenses are projected to be between $130-150 million. Our focus will be on maintaining the high standards of production efficiency and safety that we have established. We are also keen on exploring new opportunities within the current contract framework to further enhance our contributions to Turkmenistan’s energy sector. This includes improving our performance metrics and expanding our operational footprint where feasible.

 

​

PETRONAS IS KNOWN FOR ITS SUBSTANTIAL CSR INITIATIVES IN TURKMENISTAN. COULD YOU SHARE MORE ABOUT THESE PROJECTS AND HOW THEY ALIGN WITH PETRONAS’ BROADER VISION FOR COMMUNITY DEVELOPMENT AND WORKFORCE TRAINING?

 

Our Corporate Social Responsibility (CSR) initiatives are a crucial aspect of our operations in Turkmenistan. We have a commitment in giving back to the communities where we operate. One of our ongoing significant projects includes “Water For Life” project, which will help around 700 households in Kiyanly and Guwlymayak settlements have access to clean water. These initiatives not only improve the quality of life for local residents but also foster strong community relations.

 

Additionally, we have placed a strong emphasis on education and workforce development. We have awarded 162 scholarships to Turkmen students to study at the University of Technology PETRONAS in Malaysia, with 15 more students expected to join in 2024. Continuous training programs have been implemented, benefiting over 1,000 Turkmen nationals, thereby enhancing their skills and employability. These efforts align with our broader vision of sustainable development and capacity building, ensuring that our operations have a lasting positive impact on the local communities.

 

​

PETRONAS HAS MADE SIGNIFICANT STRIDES IN SUSTAINABILITY, PARTICULARLY IN REDUCING CARBON EMISSIONS. COULD YOU ELABORATE ON YOUR KEY STRATEGIES AND INITIATIVES THAT HAVE DRIVEN THESE ACHIEVEMENTS, AND HOW TO CONTINUE LEADING IN ENVIRONMENTAL RESPONSIBILITY IN THE FUTURE?

 

Sustainability is a core pillar of PETRONAS’ operational strategy. We are proud to be the first national oil company to aim for zero carbon emissions, and we have already achieved a 50% reduction of emissions in our operations in Turkmenistan. Our approach involves integrating advanced technologies and adopting best practices to minimize our environmental footprint. One of our key strategies includes the implementation of Real-Time Facilities Monitoring Systems, which help us efficiently manage our energy consumption and reduce emissions. PETRONAS has also invested in renewable energy projects and is exploring ways to incorporate more sustainable practices into daily operations.

 

Looking ahead, we plan to further our commitment to environmental responsibility by continuing to innovate and invest in green technologies. We are exploring carbon capture and storage solutions and enhancing our renewable energy portfolio. Our goal is to not only meet but exceed global sustainability standards, positioning PETRONAS as a leader in the energy transition.

 

​

PETRONAS IS COMMITTED TO BOTH TECHNOLOGICAL INNOVATION AND SUSTAINABLE DEVELOPMENT IN TURKMENISTAN. IS THERE ANYTHING ELSE YOU WOULD LIKE TO ADD ABOUT PETRONAS’ VISION FOR THE FUTURE IN TURKMENISTAN?

 

I would like to emphasize that our vision for the future in Turkmenistan is one of continued partnership, innovation, and sustainable growth. We are dedicated to working closely with the Turkmen government and local communities to achieve shared goals. Our investments in technolo-gy, infrastructure, and human capital are all geared towards creating a prosperous and sustainable future for Turkmenistan.

 

As we move forward, we remain committed to our values of integrity, innovation, and environmental stewardship. As stated in PETRONAS's Statement of Purpose, 'A progressive Energy and Solutions Partner Enriching Lives for a Sustainable Future', PETRONAS is moving towards supporting Sustainable Development Goals wherever it operates. We look forward to many more years of successful collaboration and positive impact in Turkmenistan.