Petronas was incorporated on 17 August 1974. It is wholly-owned by the Malaysian Government.
Petronas is rejuvenating their subsea infrastructure/pipeline systems. It has collaborated with Australias Scientific & Industrial Research (CSIRO) and successfully developed a novel pipeline repair system, a composite material consisting of fibreglass reinforcement saturated in a resin matrix.
PIPEASSURE is highly durable, resistant to moisture, capable of withstanding severe conditions. The technology is an overwrap to protect and repair damaged sections of oil and gas pipelines, allowing cost-effective efficient repairs, avoiding pipeline shutdowns. It also extends the lifespan of pipelines, enabling operators to schedule installation of a replacement pipeline at a later date, with minimum downtime.