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Upstream Asset Management Summit Paves the Way for Sustainable Energy Solutions

2024 Media Release - 5 Mar

KOTA KINABALU, 5 March 2024 – Malaysia Petroleum Management (MPM), PETRONAS, in collaboration with Kuala Lumpur Section of the Society of Petroleum Engineers, launched the Upstream Asset Management Summit (UAMS) 2024, a three-day event, that serves as a platform for industry leaders, experts, and service providers to exchange knowledge, experiences, and best practices in managing oil and gas assets.

The summit, which takes place from 4-6 March 2024, features a comprehensive programme including 52 technical presentations and panel sessions that covers, among others, topics such as resource sustainability and asset reliability as well as the Oil and Gas Services and Equipment providers’ role in supporting the industry.

A dinner was also held in conjunction with the summit, attended by Sabah Minister of Finance Datuk Seri Panglima Masidi Manjun, alongside senior government officials as well as leaders of oil and gas industry players.

Datuk Seri Panglima Masidi said, “I extend my heartfelt gratitude to MPM for selecting Sabah as the venue for the UAMS as it underscores Sabah’s growing significance in the region’s energy landscape. It’s a testament to our commitment towards sustainable development and upskilling of Sabahan talents, and I am confident that this summit will foster meaningful dialogue and collaborations for the benefit of the broader industry.”

PETRONAS Senior Vice President of MPM, Datuk Ir Bacho Pilong said, “We are delighted to see a great turnout for today’s summit, bringing together key stakeholders and industry players to address the challenges and seize opportunities in the Upstream sector. This gathering solidifies our commitment in driving sustainable management of our nation's petroleum resources through innovative solutions and collaborative efforts with the State Government and stakeholders across the industry.

Building upon this commitment, Datuk Ir Bacho Pilong, together with PETRONAS Chief Sustainability Officer, Charlotte Wolff-Bye, convened an executive roundtable on the same day with petroleum arrangement contractors in Malaysia. Recognising the need to mitigate methane emissions, the roundtable focused on fostering collaboration and partnerships in support of achieving near zero methane emission levels. Attendees also shared updates on existing collaborations and explored practical approaches in reducing emissions within the Malaysian oil and gas value chain.

Since its inception in 2015, UAMS (formerly known as Reservoir Management & Surveillance Summit -RMSS) has been instrumental in optimising oil and gas production by fostering the exchange of insights and strategies.

The 2022 edition of the summit drew participation of over 200 industry leaders and experts. This year, the event experienced a notable surge in popularity attracting more than 300 attendees.

MPM manages petroleum arrangements in Malaysia and provides stewardship on upstream petroleum activities. More information on investment opportunities in Malaysia’s upstream sector is available at

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