Malaysia's state-owned oil and gas giant Petronas is seriously considering potential opportunities for collaboration, alliances and partnership in new growth areas.
Md. Arif Mahmood, Petronas vice president, corporate strategic planning, made this remarks at the 15th Asia Oil and Gas Conference here on Tuesday.
Incorporated in 1974, Petronas was vested with the entire ownership and control of the petroleum resources in Malaysia.
It has since grown into a fully integrated oil and gas corporation, ranked among the Fortune Global 500 largest corporations in the world.
Md. Arif said that Petronas was keen on unconventional oil and gas sectors with high potential and new sources of energy beyond oil and gas in order to optimize value from its many investments back home or in other parts of the world.
He also said that Petronas had been pursuing growth beyond the comfort zone of traditional focus areas, resulting in the company' s pursuance of business expansion in countries with challenging environment like Venezuela and Iraq.
Meanwhile, Md. Arif stressed that research and development activities should be institutionalized in national oil companies as weak technology and innovation were among the challenges for most of them.
Md. Arif Mahmood, Petronas vice president, corporate strategic planning, made this remarks at the 15th Asia Oil and Gas Conference here on Tuesday.
Incorporated in 1974, Petronas was vested with the entire ownership and control of the petroleum resources in Malaysia.
It has since grown into a fully integrated oil and gas corporation, ranked among the Fortune Global 500 largest corporations in the world.
Md. Arif said that Petronas was keen on unconventional oil and gas sectors with high potential and new sources of energy beyond oil and gas in order to optimize value from its many investments back home or in other parts of the world.
He also said that Petronas had been pursuing growth beyond the comfort zone of traditional focus areas, resulting in the company' s pursuance of business expansion in countries with challenging environment like Venezuela and Iraq.
Meanwhile, Md. Arif stressed that research and development activities should be institutionalized in national oil companies as weak technology and innovation were among the challenges for most of them.
