Petronas unit gives Remcoat marketing rights to Wasco
KUALA LUMPUR: Petronas Technology Ventures Sdn Bhd(PTVSB) has inked a five-year exclusive licensing agreement with Wasco Coatings Sdn Bhd for the marketing rights of its homegrown oil and gas product, Remcoat.
Wasco, a global pipe coating specialist, will manufacture and market Remcoat to the global market, said PTVSB Chairman, Dr Colin Wong Hee Huing, who is alsothe Senior Vice President of Petronas Technology and Engineering Division.
“Remcoat is currently being used in our Garraf project in southern Iraq, offering reliable protection for pipelines.
“The value that the three-layer coating system brings is that it can protect pipelines for over 20 years,” Wong told a media conference here after the signing ceremony in conjunction with the 8th International Petroleum Technology Conference 2014 on Thursday.
Wong said Petronas is responsible for more than 10,000 kilometres of pipelines that transport different kinds of hydrocarbon streams continuously all over the country.
The local network of pipelines was expected to grow by several hundred kilometres in the next couple of years, he said, adding the global demand for line pipe was substantial.
He said the Remcoat technology was developed by Petronas in collaboration with Australia”s Commonwealth Scientific and Industrial Research Organisation, a partnership that began in 2009.
Wong said Remcoat was the second major proprietary product commercialised by Petronas this year after “HycaPure Hg”, a solid-supported ionic liquid mercury removal technology that it signed with Clariant in March this year.
Meanwhile, Wasco Group Chief Executive Officer, Giancarlo Maccagno said the licensing collaboration allowed the group to produce the three-layer coating system based on Petronas” recipe and it would be manufactured in Gebeng, Kuantan.
“Production-wise, the Gebeng facility has the capacity to meet global demand.
“Malaysian engineers and technical operators now act as trainers to the Americans to apply the coating technology. I am confident that Remcoat will have great success,” he said- Bernama
