Deleum in MoU with Universiti Teknologi Petronas

PETALING JAYA: Deleum Bhd’s subsidiary Deleum Chemicals Sdn Bhd has entered into a memorandum of understanding (MoU) with Universiti Teknologi Petronas (UTP) to develop cost-effective technologies for oilfield production enhancement.

The MoU will see both parties sharing best practices and expertise to develop new technologies and products particularly in specialty chemicals and instruments to enhance the productivity of the oilfields and reduce flow assurance issues faced by the asset owners.

Deleum said the collaboration signifies a great milestone for the group in creating a culture of innovation in the forefront of the business.

“The major thrust of the MoU is to provide a sustainable platform for student development and expose them to workplace technological challenges faced by the industry."

Deleum said the initial phase of the effort is planned for two years, with an option to extend, subjected to the progress and findings of the research.

“During this period, there will be active involvement and interaction between parties to explore new and novel inventions to solve the problems faced by the industry in their daily operations.”

Deleum shares rose one sen or 1.04% to close at 97 sen today, with some 360,900 shares changing hands.