KUALA LUMPUR: Petronas Technology Ventures Sdn Bhd (PTVSB), a technology commercialisation arm of Petroliam Nasional Bhd (Petronas), has signed a licensing agreement with Wasco Coatings (M) Sdn Bhd, a global pipeline coating specialist for the commercialisation of REMCOAT.
The agreement was signed at the 8th International Petroleum Technology Conference here today.
In a joint statement here today, the companies said under the terms of agreement, Wasco would manufacture and market REMCOAT, Petronas’ proprietary three-layer pipeline coating system that protects oil and gas pipeline against corrosion.
REMCOAT is a superior coating system that offers a cost-effective solution for pipeline protection against corrosion and has a capability to provide protection for over 20 years.
PTVSB chairman and senior vice president of Petronas’ Technology and Engineering Division, Dr Colin Wong Hee Huing, said REMCOAT was currently being used at the company's Garraf projects in southern Iraq, offering reliable protection for pipelines.
"Through this collaboration with Wasco, we believe REMCOAT will gain wide acceptance internationally," he said.
Wasco group chief executive officer, Giancarlo Maccagno, said REMCOAT was a testament of the strong collaboration between Wasco and Petronas to deliver efficient new product solutions to the market.
"We have successfully exported our deepwater technology solutions and we are confident that REMCOAT will be successful," he said.-- Bernama