Petronas unit gives Wasco rights to market Remcoat

KUALA LUMPUR: Petronas Technology Ventures Sdn Bhd (PTVSB) signed a five-year licensing agreement with Wasco Coatings for the marketing rights for Remcoat.

The Remcoat technology was developed by Petronas in collaboration with Australia’s Commonwealth Scientific and Industrial Research Organisation in 2009.

The coating system can protect pipelines for over 20 years.

“Remcoat is used in our Garraf project in southern Iraq, offering reliable protection for pipelines,” said PTVSB chairman and Petronas Technology and Engineering Division senior vice-president Dr Colin Wong Hee Huing at signing ceremony here, yesterday.

The signing ceremony was held in conjunction with the 8th International Petroleum Technology Conference 2014.

Petronas is responsible for more than 10,000km of pipelines that transport different kinds of hydrocarbon streams continuously all over the country, according to Wong.

“The network of pipelines is expected to grow by several hundred kilometres in the next couple of years,” he said.

Wasco group chief executive officer Giancarlo Maccagno expects great demand for Remcoat once his firm starts marketing it.

“We have a business plan to market this product globally and expect to see significant demand from industry players.” By Lidiana Rosli