PETRONAS, Emerson to Collaborate on Digital Transformation and Decarbonization Initiatives

Rhea-AI Summary

PETRONAS has signed a Memorandum of Understanding (MoU) with Emerson (NYSE: EMR) to advance digital transformation and decarbonization efforts. This collaboration aims to enhance automation solutions and extract diagnostic data from field instruments. Emerson's Vice President highlighted the synergy in sustainability and digital transformation priorities between the two companies. The agreement aligns with PETRONAS's goal of achieving Net Zero Carbon Emissions by 2050 through innovative and cleaner energy operations.

Positive

• Collaboration to enhance automation solutions and cybersecurity.
• Focus on sustainable initiatives like carbon capture and hydrogen.
• Support for PETRONAS's goal of Net Zero Carbon Emissions by 2050.

Negative

• None.

KUALA LUMPUR, Malaysia--(BUSINESS WIRE)-- PETRONAS has recently inked a Memorandum of Understanding (MoU) with global technology and software company Emerson (NYSE:EMR) to drive digital transformation and decarbonization initiatives.

The two companies are building on their decades-long relationship to develop advanced automation solutions. Over the past few years, Emerson has been collaborating with PETRONAS to identify digitalization and decarbonization opportunities while localizing a services and solutions portfolio.

The agreement was signed between PETRONAS Head of Group Technical Solutions (GTS), Project Delivery and Technology (PD&T), M Iskandar Bakeri and Emerson Vice President and General Manager of Automation Solutions (Malaysia), Khairil Affandi Akhiruddin. PETRONAS Head (Engineering), GTS, PD&T, Badrul Hisham Ibrahim together with Emerson Director of Marketing (Asia Pacific), Robert Halgren witnessed the signing.

Iskandar said, "Emerson has a comprehensive portfolio of industry expertise and a network of global industry centers. Through this collaboration, we look forward to enhancing our remote operation capability and strengthening our cybersecurity, while at the same time accelerating our carbon footprint reduction and improving asset efficiency and operational excellence.”

The agreement will pave the way for PETRONAS and Emerson to collaborate on extracting Highway Addressable Remote Transducer (HART) diagnostic data from field instrument and control systems, developing effective predictive analytics and optimizing wireless instrument performance. These are used in process control applications and in the implementation of cybersecurity improvements to strengthen threat monitoring capabilities, achieve higher security level compliance as well as develop measurement and automation solutions to support sustainability and decarbonization initiatives focusing on carbon capture, utilization and storage (CCUS), hydrogen and ammonia.

Commenting on the latest collaboration, Khairil Affandi said, “We are very grateful for our ongoing collaboration with PETRONAS. This agreement will further strengthen our synergy on sustainability and digital transformation – key priorities for both organizations.”

PETRONAS is progressively pursuing its goal to achieve Net Zero Carbon Emissions (NZCE) by 2050 with focused efforts in place to decarbonize its operations through innovative solutions, especially on cleaner energy options, and operational excellence that reduces carbon footprints.

About Petroliam Nasional Berhad

We are a dynamic global energy group with presence in over 50 countries. We produce and deliver energy and solutions that power society’s progress in a responsible and sustainable manner.

We seek energy potential across the globe, optimizing value through our integrated business model. Our portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.

Sustainability is at the core of what we do as we harness the good in energy to elevate and enrich lives. People are our strength and partners for growth, driving our passion for innovation to progress towards the future of energy sustainability.

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.

Additional resources:

• Join the Emerson Exchange 365 Community
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View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005694/en/

For Emerson

Taufik Atman : +60 19 669 9579 | taufik.atman@petronas.com

Denise Clarke : +1 512 587 5879 | denise.clarke@fleishman.com

Source: Emerson

FAQ

What is the recent collaboration between Emerson and PETRONAS about?

Emerson and PETRONAS signed a Memorandum of Understanding to focus on digital transformation and decarbonization.

How is Emerson supporting PETRONAS's sustainability goals?

Emerson will help develop automation solutions that support carbon capture, utilization, and storage.

What is Emerson's stock symbol?

Emerson's stock symbol is EMR.

When was the MoU between PETRONAS and Emerson signed?

The MoU was recently signed, although the specific date is not mentioned in the press release.

What are the key priorities for Emerson and PETRONAS in their collaboration?

The key priorities include sustainability, cybersecurity, and digital transformation.