Source: https://bernama.com/en//news.php?id=2132780
KUALA LUMPUR, Oct 27 (Bernama) — Universiti Teknologi Petronas (UTP), Mulk Oil and Gas Synergy Sdn Bhd (MOGS) and OMNI Oil Technologies (M) Sdn Bhd (OMNI) have signed a research collaboration agreement (RCA) to develop and commercialise the first custom-designed and Malaysian-made Novel Spiral Track Gage Polycrystalline Diamond Cutter (PDC) Drill Bit.
Present at the event, which was held at the Kuala Lumpur Convention Centre (KLCC), on Oct 18, were UTP vice chancellor Prof Ts Dr Mohamed Ibrahim Abdul Mutalib, MOGS executive vice president Mohd Zaidan Khalid and OMNI managing director Nik Mustapha Fathil Nik Mahmud.
The signing was also witnessed by MOGS chairman Tan Sri Dr Aseh Che Mat and MOGS Board Member Datuk Seri Ismail Ahmad.
Mohamed Ibrahim, in his speech, said the agreement was a testament to UTP’s continuous effort in realising its aspiration to become an internationally recognised partner of choice for industry.
“Through this collaboration, we hope to commercialise our innovation, the PDC drill bit into the market. The PDC Drill Bit is customised to suit Malaysia and South East Asia’s unique offshore drilling conditions where geological formations are characterised as being interbedded.
“The PDC drill bit is one of the many innovations that are being commercialised by UTP’s Research, Innovation and Commercialisation Unit. Through our multidisciplinary research institutes, UTP undertakes research that are anchored on addressing industry pain points and positions itself as a partner to the industry,” he said.
Meanwhile, Aseh said the purpose of the tripartite RCA was to promote and commercialise local research and development (R&D) and manufacturing of high-performance tools given the fact that oil and gas (O&G) drilling activities in Malaysian waters have been traditionally been dominated by imported products.
“Therefore, the tripartite collaboration between MOGS, UTP and OMNI will open up a seamless opportunity for MOGS to commercialise the first made in Malaysia PDC Drill Bit,” he said.
Mohd Zaidan said that the RCA was an incredibly exciting phase for MOGS and the company is well-positioned to bring increased choice to the marketplace.
“Through MOGSwell, we are offering a deep portfolio of solutions that are sufficiently broad, in order to reach almost every aspect of the O&G business and the first made in Malaysia PDC Drill Bit will be the key part of WELLtools products, mainly the supply of high-performance tools and equipment that drives oilfields performance to the next level,” he said.
“MOGS’ participation and immediate focus is to accelerate the journey to commercialisation and the tripartite RCA is about leveraging the full value and expertise of all the three partners.
“Therefore, MOGS will be working closely with UTP and OMNI throughout the crucial phases from product development planning until go-to-market execution,” he added.
Meanwhile, Nik Mustapha said the initiative will pave the way for OMNI to further expand the company’s manufacturing capabilities of high precision tools.
“We are delighted to explore and enable the exciting possibilities that this tripartite RCA of the first made in Malaysia PDC Drill Bit has to offer.
“Once this project is fully rolled out, Malaysia will have the PDC Drill Bit manufactured locally at our plant in Nilai which adopts the implementation of the Fourth Industrial Revolution to deliver the full value of the first made in Malaysia PDC Drill Bit,” he added.
– BERNAMA
