Malaysia’s state-owned oil and gas heavyweight Petronas is using artificial intelligence (AI) to transform the country’s exploration and production investment landscape, helping investors identify and evaluate upstream opportunities faster as it seeks to attract more capital and accelerate projects from discovery to first production.
A recent agreement, signed through Malaysia Petroleum Management (MPM) with Iraya Energies, is expected to help the company add Agentic AI capabilities to Petronas myPROdata web-based platform that provides access to essential subsurface and surface data related to exploration blocks, discovered resource opportunities, and producing fields in Malaysia.
As a result, the enhanced platform will integrate geological, geophysical, engineering, and other relevant data with Agentic AI capabilities that can autonomously analyse and connect multiple data sources, enabling users to navigate, analyse, and derive insights from complex upstream data more efficiently.
The addition will also support comprehensive end-to-end evaluations, from identifying prospective areas and assessing resources to evaluating development opportunities and commercial viability. This move is set to provide investors and industry players with insight into the country’s exploration and production data to support informed investment decisions and reinforce the Asian nation’s attractiveness as an upstream investment destination.
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Datuk Ir. (Dr) Bacho Pilong , MPM Senior Vice President, commented: “By bringing together trusted data and AI-powered intelligence, we aim to enable faster and more informed investment decisions, contributing to Petronas’ ambition to attract approximately RM50 billion to RM60 billion in annual upstream investments while shortening the journey from discovery to first hydrocarbon from 100 months to 50 months.”
Iraya Energies will serve as the consortium lead integrator, responsible for establishing the technical, commercial and security foundations required to deliver AI-powered insights and facilitate the broader program rollout.
Petronas claims that this initiative demonstrates its role, through MPM, as the shaper, accelerator and regulator of Malaysia’s upstream industry by strengthening the investment ecosystem and supporting the continued growth and responsible development of the nation’s hydrocarbon resources.
“This will reinforce Malaysia’s position as a competitive and future-ready upstream investment destination,” MPM Senior Vice President emphasized.