News

Petronas Carigali Sdn Bhd, a subsidiary of Petronas, has signed a technology collaboration agreement with MIT Innovation Sdn Bhd for the development of a cost-saver drilling tool. Datuk Mohd Annuar Taib, Petronas Carigali president, and Petronas development and production chief executive officer, said the new invention, known as intelligent circulation while drilling (ICWD) tool, would significantly reduce drilling cost in the challenging upstream exploration and development environments. “Usage of the tool is expected to save more than RM150 million in drilling cost per year in Malaysia ...

KUALA LUMPUR: Ahmed Tahoun has been appointed the President of the Arab Malaysian Chamber of Commerce Berhad (AMCC), with effect from July 18, 2012. “I am honoured to be embarking on this journey to achieve the goal of the AMCC to bridge the Arab and Malaysian Economies. The Arab World is going through major development that releases a strong potential for new business opportunities. AMCC is focused on contributing substantially to the economic growth of Malaysia and the Arab countries,  while facilitating to its members to learn from the economic developmental model of Malaysia”. Ahmed ...

MIT Innovation Sdn Bhd presented its new generation of Intelligent Downhole Products in Petronas Upstream Technology Showcase 2012. This technology event was held in Kuala Lumpur Convention Center (KLCC) at the heart of Central Business District of Kuala Lumpur, Malaysia.

Malaysia Investment & Development Authority (MIDA) awarded MIT Innovation Sdn Bhd, the prestigious Pioneer Status. This award is an important recognition by the government for the company new development of intelligent downhole drilling equipment. Important incentives provided with this award include free taxation and duties for 10 years by the government of Malaysia. It adds to the company achievement and enhance its economical competitive edge for the international market.

MIT Technologies Engineering & Operating office was relocated to Technology Park Malaysia (TPM). This important move is pivotal to support faster production and deployment of the company’s new products. The Technology Park Malaysia (TPM) is a local hub for research and development of strategic industries. This science park is located at the outskirt of Kuala Lumpur, Malaysia over a total land area of 750 acres.