PETRONAS Carigali Unveils Pioneering AI Venture - TriCipta AI with Beicip-Franlab & AFED Digital to Deliver Breakthrough Performance Across Upstream Value Chain
KUALA LUMPUR, June 18 (Bernama) -- PETRONAS Carigali Sdn Bhd today announced a groundbreaking strategic partnership for its Upstream business with Beicip-Franlab, a leading geoscience and reservoir technology company, and AFED Digital, a specialist in advanced AI and digital solutions. Together, they have entered into a Joint Development Agreement (JDA) via TriCipta AI, a pioneering venture aimed at accelerating hydrocarbon discovery, reducing uncertainties, and maximising recovery sustainably across PETRONAS Carigali's operations.
The partnership will initially focus on delivering high-impact and tangible AI solutions to directly address key challenges in exploration, development, and production. Built on a long-term vision of collaborative success, the strategic partnership reflects PETRONAS' drive towards operational excellence and future readiness across its value chain.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Bursa Malaysia to remain cautious, CI to trade within the 1,500-1,500 range beginning from Monday (June 23)
KUALA LUMPUR (Bernama): Bursa Malaysia is expected to remain cautious from this Monday (June 23), tracking Wall Street's performance as markets digest signals from the United States (US) Federal Open Market Committee (FOMC), said an analyst. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan noted that the US Federal Reserve's (Fed) projections, characterised by slower growth, elevated inflation, and a higher unemployment trajectory for 2025-2027-suggest a stagflationary undertone, which could weigh on risk sentiment. "Growth-sensitive sectors may face headwinds as the policy outlook remains uncertain. The split in the FOMC's dot plot, with members divided between no interest rates cuts and two cuts by year-end, implies limited near-term easing and reduces the likelihood of a July cut,' he told Bernama. Mohd Sedek also pointed out that the benchmark index is hovering near the psychological threshold of 1,500 points, adding that a breach of this level could trigger opportunistic buying by institutional investors, especially as the index nears its immediate support at 1,490 points. "While the FOMC's guidance has introduced caution, markets may find support at lower levels, where valuations become more compelling. Geopolitical-driven volatility is often short-lived, and we expect a moderation in risk sentiment as these concerns subside,' he said. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng market focus next week will shift to several key economic indicators, including the US quarterly gross domestic product and jobless claims. "The FBM KLCI is currently priced at about 12 times the calendar year 2025 price-to-earnings ratio, notably below its long-term average of over 16 times, indicating potential for further appreciation. "The subdued valuation may attract bargain hunters. For the week ahead, we expect the index to trade within the 1,500-1,530 points range,' Thong added. For the week just ended, Bursa Malaysia was mostly subdued as investors stayed on the sidelines due to ongoing concerns over the Middle East conflict and the anticipated implementation of reciprocal tariffs by US President Donald Trump. On a Friday-to-Friday basis, the barometer index dropped 15.37 points to 1,502.74 from 1,518.11 a week earlier. The FBM Emas Index fell 141.109 points to 11,228.99, the FBMT 100 Index was down 128.59 points to 11,015.45, and the FBM Emas Shariah Index declined 128.19 points to 11,201.34. The FBM 70 Index decreased 250.96 points to 16,117.75 and the FBM ACE Index shrank 86.34 points to 4,400.85. Across sectors, the Industrial Products and Services Index eased by 4.08 points to 147.27 and the Energy Index was 5.05 points lower at 735.71. The Plantation Index slid 0.40 of-a-point to 7,220.52, the Healthcare Index dipped 85.83 points to 1,691.89, and the Financial Services Index tumbled 179.87 points to 17,468.38. Turnover dropped to 13.72 billion units worth RM10.84 billion from 13.89 billion units valued at RM10.61 billion in the preceding week. The Main Market volume fell to 6.29 billion units valued at RM9.63 billion against 6.42 billion units worth RM9.47 billion previously. Warrants turnover expanded to 6.16 billion units worth RM845.61 million versus 5.97 billion units valued at RM687.92 million a week ago. The ACE Market volume slipped to 1.25 billion units valued at RM361.21 million compared with 1.50 billion units worth RM458.75 million in the preceding week. - Bernama
The Star
2 hours ago
- The Star
Ringgit to hover around RM4.24 to RM4.25 and expected to stay defensive due to Middle East conflict
KUALA LUMPUR (Bernama): The ringgit is expected to stay defensive within a tight range this week, as traders and investors will continue to observe the military conflict in the Middle East, said an analyst. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the Israel-Iran war continues to take centre stage as the United States is still weighing its options to participate in the conflict. "White House spokeswoman Karoline Leavitt indicated that President Donald Trump will make his decision whether or not to go within the next two weeks. The US Dollar Index (DXY) fell 0.22 per cent to 98.691 points. "Apart from that, Personal Consumption Expenditures (PCE) inflation data for May 2025 will also be released next week. On that note, ringgit could stay within a range of RM4.24 to RM4.25 next week,' he told Bernama. For the week just ended, the ringgit gave up its earlier gains at the beginning of the week as escalating geopolitical concerns spurred demand for the safe-haven US dollar. However, the market showed a slight sign of recovery at the end of the week, as some investors took the opportunity to return to emerging currencies due to the latest White House announcement regarding the ongoing Iran-Israel war. The ringgit ended the week easier against the greenback, closing at 4.2505/2565 on Friday from 4.2435/2480 a week earlier. The local note traded mostly higher against a basket of major currencies. The ringgit rose vis-à-vis the Japanese yen to 2.9245/9289 from 2.9448/9482 at Friday's close, went up against the British pound to 5.7356/7437 from 5.7482/7543 previously, but depreciated versus the euro to 4.9000/9069 from 4.8906/8958 at the end of last week. The ringgit traded mostly higher against ASEAN currencies. The local note declined against the Singapore dollar to 3.3088/3140 on Friday from 3.3077/3118 in the previous week, advanced versus the Indonesian rupiah to 259.2/259.7 from 260.2/260.6 previously, and strengthened versus the Thai baht to 12.9727/9969 from 13.0807/1018 last week. Meanwhile, the ringgit also rose against the Philippine peso at 7.43/7.45 compared to 7.55/7.56 previously. - Bernama
The Star
3 hours ago
- The Star
Japan to provide defence equipment to Thailand, seven other nations
The Japanese national flag waves at the Bank of Japan building in Tokyo, March 18, 2024. - Photo: Reuters file TOKYO: (Bernama-Kyodo) -- Japan plans to supply defence equipment to Thailand, Tonga and six other nations in the current fiscal year as security aid, a government source said Friday (June 20), in bid to ensure safe sea lanes in the Indo-Pacific region where China is evolving its military posture. According to Kyodo news agency the eight countries -- also including East Timor, Indonesia, Malaysia, Papua New Guinea, the Philippines and Sri Lanka -- are expected to be designated as the recipients of Japan's "official security assistance" (OSA) framework, designed for like-minded partners, for fiscal 2025 from April, the source said. The government is considering providing them Japanese-made drones to help in their natural disaster relief and maritime surveillance missions, according to the source. Japan launched the OSA scheme in April 2023 to help developing countries strengthen their defence capabilities amid security concerns such as the Chinese forces' increasing assertiveness at sea and in the air. In the past two fiscal years through 2024, Bangladesh, Djibouti, Fiji, Indonesia, Malaysia, Mongolia and the Philippines were recipients of the assistance programme. In May, Japan gave the Fiji navy a rescue boat and surveillance equipment, in its first delivery under the OSA framework. In its fiscal 2025 initial budget, Japan earmarked 8.1 billion yen (US$56 million) for OSA assistance, up from 2 billion yen in fiscal 2023 and 5 billion yen in fiscal 2024. - Bernama-Kyodo
