PETRONAS Ventures

What PETRONAS Ventures does

PETRONAS Ventures is the corporate venture capital arm of Petroliam Nasional Berhad (PETRONAS), Malaysia's state-owned national oil and gas company founded in 1974 and wholly owned by the Malaysian Government. The CVC was established in 2019 and operates with 11-50 employees out of Kuala Lumpur, investing in early-to-growth-stage companies developing technologies that shape the future of energy and industry. Within PETRONAS's broader Technology & Innovation portfolio, PETRONAS Ventures sits alongside complementary open-innovation platforms including Innovation Gateway @ PETRONAS (iG@P), PETRONAS Pipeline of the Future (POTF), and the social-enterprise incubator SEEd.Lab, forming a layered system for technology sourcing, validation, and adoption across the parent group's upstream, gas, downstream, and emerging low-carbon businesses.

The underlying technology and platform architecture that PETRONAS Ventures draws upon includes the commercially deployed EarthNET AI subsurface platform (in partnership with Earth Science Analytics) for identifying overlooked pay intervals in legacy Malay Basin wells, the Digital Intelligence Centre (DIC) that links Malaysian Petroleum Management with Petroleum Arrangement Contractors via an AI-enabled unified platform for IOR/EOR evaluation, the proprietary Proshield+ graphene-based advanced coating launched in April 2023, and a solid-state lithium metal battery architecture developed with the University of Manchester and Deakin University that won the Royal Society of Chemistry Stephanie L Kwolek Prize. The CVC's revenue model is transactional (equity investments in startups and technology partners) rather than subscription- or fee-based, with investment terms not publicly disclosed. PETRONAS Ventures serves a dual customer base: external portfolio companies seeking strategic capital and partnership with the PETRONAS ecosystem, and internal PETRONAS business units seeking technology adoption pathways for net-zero and operational efficiency goals.

PETRONAS's parent-group revenue of RM266.1 billion in FY2025, its $1.2 billion (2025) and $1.56 billion (2026) Dubai-focused investment programme, the $1.1 billion Sarawak offshore CCS facility (projected to be the world's largest by end of decade), the 29.3 mtpa Bintulu LNG complex, and flagship partnerships with QatarEnergy, JERA, Eni (Searah JV), and Saudi Aramco (now PRefChem) collectively define the strategic optionality that PETRONAS Ventures can deploy in support of portfolio companies.

Name

PETRONAS Ventures

Legal name

Petroliam Nasional Berhad (PETRONAS) (20076-K)

Website

https://petronas.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

11–50 employees

Short description

PETRONAS Ventures is the corporate venture capital arm of Malaysia's national oil company PETRONAS, investing in early-to-growth-stage companies developing future-of-energy and industry technologies, operating alongside the parent group's open-innovation platform to bridge startups with PETRONAS's integrated energy value chain.

Ownership category

akta.pro rank

Product category

Corporate Venture Capital

NAICS

Other Financial Vehicles (52599)

akta.pro primary industry

Corporate Venture Capital (CVC) (FSANAAAF)

akta.pro secondary industries

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF), Strategic / Balance-Sheet CVC (On-balance-sheet investing) (FSANAHAA)

Keywords

• Corporate venture capital
• Energy technology investing
• Clean energy startups
• Venture capital
• Decarbonization investment

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices16 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream Oil & Gas Production: Exploration, development and production of crude oil and natural gas across Malaysia and international operations (Suriname, Brazil, Indonesia, Iraq, Turkmenistan, Mexico, South Sudan, Gabon, etc.). Production joint venture Searah with Eni targets over 500,000 boe/d.
2. Liquefied Natural Gas (LNG) Sales: Long-term LNG supply contracts (e.g., 20-year QatarEnergy deal for 2 MTPA from 2028, 20-year JERA deal for 2 MTPA from 2028, ENEOS Xplora 10% stake in MLNG Tiga). The PETRONAS LNG complex in Sarawak has 29.3 MTPA combined production capacity. Also operator of MISC LNG carrier time charters.
3. Refining & Petrochemicals (PRefChem / Pengerang Integrated Complex): Full ownership transfer of PRefChem refining and petrochemical joint ventures from Saudi Aramco; PIC is a world-scale integrated refinery and petrochemical complex in Johor; produces gasoline, diesel, jet fuel, petrochemical feedstocks.
4. Branded Retail Fuel & Lubricants: Retail sales via PETRONAS Dagangan Berhad (myMesra stations), Setel app, and PETRONAS Lubricants International distribution globally (including PETRONAS Sprinta, Urania, Iona lubricants). Direct-to-consumer and B2B distribution.
5. Petrochemical Products (PETRONAS Chemicals Group): PETRONAS Chemicals Group Berhad (PCG) delivers basic, intermediate and specialty chemicals to global industries.
6. Capital Investment & International Expansion (Dubai and other hubs): PETRONAS projects investments of $1.2 billion in 2025 and $1.56 billion in 2026 in Dubai-focused downstream growth, petrochemical integration, and LNG expansion.
7. Corporate Venture Capital (PETRONAS Ventures): Corporate VC investing in technologies shaping the future of energy and industry; complements Innovation Gateway @ PETRONAS (iG@P) open-innovation platform. Equity investments and strategic stakes in startups and technology partners.

Pricing tiers

Go-to-market motion4 records

Distribution channels10 records

Marketing channels10 records

Core offering

PETRONAS Ventures is the corporate venture capital (CVC) arm of PETRONAS, deploying equity investments and strategic stakes into early- to growth-stage companies developing technologies that shape the future of energy and industry. It invests across decarbonization, hydrogen, carbon capture and storage (CCS), renewable energy, and digital energy themes, and works alongside related PETRONAS technology and innovation entities including Innovation Gateway @ PETRONAS (iG@P), PETRONAS Pipeline of the Future (POTF), and SEEd.Lab.

Product overview

PETRONAS Ventures is a single corporate venture capital offering — not a multi-module product platform — within PETRONAS's broader Technology & Innovation portfolio. As described on the PETRONAS Global website, PETRONAS Ventures functions as the CVC arm that invests in technologies shaping the future of energy and industry, sitting alongside related PETRONAS technology and innovation entities such as Innovation Gateway @ PETRONAS (iG@P), PETRONAS Pipeline of the Future (POTF), and SEEd.Lab.

Differentiator

Problem solved

Functional benefit

Brands

• PETRONAS Ventures: Corporate venture capital arm investing in technologies shaping the future of energy and industry.
• PETRONAS Chemicals Group Berhad (PCG)
• PETRONAS Energy & Gas Trading (PEGT)
• PETRONAS Gas Berhad (PGB)
• PETRONAS Marine
• PETRONAS Lubricants International (PLI)
• PETRONAS Dagangan Berhad (myMesra)
• Pengerang Integrated Complex (PIC)
• Malaysian Petroleum Management (MPM)
• Yayasan PETRONAS
• PETROSAINS
• PETRONAS Leadership Centre (PLC)
• Malaysian Philharmonic Orchestra (MPO)
• PETRONAS Twin Towers
• Universiti Teknologi PETRONAS (UTP)
• Innovation Gateway @ PETRONAS (iG@P)
• PETRONAS Pipeline of the Future (POTF)
• SEEd.Lab
• Merdeka Awards
• PETRONAS Motorsports
• PETRONAS Fluid Technology Solutions
• PETRONAS AutoExpert
• Setel
• PETRONAS TVS Racing

Products and services

• PETRONAS Ventures Corporate venture capital (CVC) arm of PETRONAS that deploys equity investments and strategic stakes in early- to growth-stage companies developing technologies for the future of energy and industry. Targets include decarbonization, hydrogen, carbon capture and storage (CCS), renewable energy, and digital energy platforms.
• Innovation Gateway @ PETRONAS (iG@P) PETRONAS's open-innovation platform that connects industry challenges with startup and technology partner solutions, supporting the Vendor Development Programme (VDP) InnoTech and Technology Marketplace for technology adoption.
• PETRONAS Pipeline of the Future (POTF) Pipeline integrity, safety and operations digitalisation initiative within PETRONAS, operating alongside PETRONAS Ventures in the technology and innovation portfolio.
• SEEd.Lab PETRONAS Group's social-enterprise incubator that empowers founders to build impact-driven ventures; positioned alongside PETRONAS Ventures within the technology and innovation portfolio.

Quantifiable outcome

• EBITDA projected at RM120-130 billion in 2026 (Moody's estimate)
• +5 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

29 partnerships are on record, tiered major, minor and flagship.

• Turkmennebit / Hazarnebit (Turkmenistan State Companies)majorStrategic or Co-development Partner · 22 June 2026PETRONAS signed agreements with Turkmen state companies Turkmennebit and Hazarnebit to access gas reserves in the Caspian Sea. Marks 30 years of PETRONAS operations in Turkmenistan (since 1996, Block 1, Caspian Sea).
• University of Manchester / Deakin UniversityminorStrategic or Co-development Partner · 18 June 2026International collaboration team 'Industrially Viable Solid State Lithium Metal Batteries' received the Royal Society of Chemistry Horizon Prize (Stephanie L Kwolek Prize) for developing a scalable solid-state lithium metal battery architecture using nanocarbon-enhanced cathodes with solid electrolytes.
• Rosneft / Gazprom (Russia)majorStrategic or Co-development Partner · 17 June 2026PETRONAS holds a stake in Rosneft; Gazprom exploring further partnerships with Malaysian firms in gas and nuclear energy. Bilateral trade between Russia and Malaysia reached $3.2 billion in 2024. Russia assured Malaysia of a 20-year agreement for oil, gas and diesel supply.
• JERA Co. (Japan)flagshipStrategic or Co-development Partner · 10 June 202620-year LNG supply agreement covering 2 million tons annually starting in 2028; extends partnership into 2040s. Japan currently relies on Malaysia for approximately 15% of its LNG imports, making it Japan's second-largest supplier. Both countries also pledged to cooperate on critical minerals supply chains.
• EniflagshipStrategic or Co-development Partner · 8 June 202650-50 joint venture Searah combining energy businesses across Indonesia and Malaysia. The new company starts with an initial production base of over 300,000 boe/d across 19 gas-producing and development assets, and aims to exceed 500,000 boe/d within three years. Investment over $15 billion over five years to develop around 3 billion boe. SEARAH expected to commence operations on July 1, 2026.
• Petronas Carigali / PTTEP Sarawak Oil / PTTEP Sabah Oil / PT Pertamina Malaysia Eksplorasi Produksi / University Technology PETRONASmajorStrategic or Co-development Partner · 4 June 2026MoU signed through Malaysia Petroleum Management (MPM) with regional E&P operators to jointly evaluate opportunities for improved and enhanced oil recovery (IOR/EOR) in offshore acreages. PETRONAS also launched the Digital Intelligence Centre (DIC), an AI-enabled unified platform connecting MPM with Petroleum Arrangement Contractors.
• Saudi AramcomajorStrategic or Co-development Partner · 25 May 2026Saudi Aramco transferred equity stakes in PRefChem refining and petrochemical joint ventures in Malaysia to PETRONAS, making PETRONAS the sole owner of the operations. The deal ends an eight-year partnership and provides PETRONAS flexibility to source crude beyond the Gulf and direct output to meet surging regional fuel demand amid Iran conflict disruptions.
• Destini Oil Services (Malaysia)minorChannel Partner/ Reseller/ Distributor · 15 May 2026Five-year contract for tubular running services (TRS) running from March 30, 2026 to March 29, 2031. Destini Oil Services is Kuala Lumpur-based and operates in Myanmar, Indonesia, Vietnam, Brunei, and Pakistan.
• ADNOC Drilling / TotalEnergies / EOG ResourcesmajorStrategic or Co-development Partner · 12 May 2026ADNOC Drilling advancing unconventional oil and gas projects with partners TotalEnergies, EOG Resources, and PETRONAS, with a final investment decision expected this year on its unconventional gas project. ADNOC upgraded reserves to 120 billion barrels of conventional oil and 297 trillion cubic feet of conventional gas.
• ENEOS XploraflagshipStrategic or Co-development Partner · 30 April 2026ENEOS Xplora re-entered the Malaysia LNG Tiga (MLNG Tiga) project with a 10% equity stake for a decade following expiry of the previous agreement in 2023. Strengthens long-term energy security and reliable LNG supply to Japan. The Bintulu LNG complex consists of nine trains with approximately 29.3 mtpa capacity and has shipped more than 12,000 LNG cargoes since 1983.
• Valaris / HalliburtonmajorStrategic or Co-development Partner · 22 April 2026Strategic partnership with PETRONAS Suriname Exploration & Production and Halliburton to support offshore oil development activities in Suriname's Guyana-Suriname Basin. Valaris will deploy high-specification offshore drilling rigs through Ensco UK Drilling; Halliburton provides subsurface analysis and well construction services; PETRONAS contributes local basin knowledge and project management.
• Bursa MalaysiaminorStrategic or Co-development Partner · 8 April 2026Collaboration between PETRONAS and Bursa Malaysia to create awareness and facilitate the public listing process for OGSE Vendors through the Road To Bursa (R2B) Programme. PETRONAS Supplier Support Programme (PSSP) also developed in collaboration with UN Global Compact Network Malaysia & Brunei (UNGCMYB), Bursa Malaysia, and Joint Committee on Climate Change (JC3).
• NTIS (National Technology & Innovation Sandbox) / SIRIM BerhadminorStrategic or Co-development Partner · 8 April 2026TITAN (Technology Innovation and Adoption) programme with NTIS and SIRIM offers a fair and comprehensive sandbox or testing ground where technologists and innovators can demonstrate their products to PETRONAS. NTIS Sandbox located at Enterprise 4, MRANTI Park, Kuala Lumpur. SIRIM located in Shah Alam.
• SLB (Schlumberger) / Subsea Integration AlliancemajorTechnology or Integration · 7 April 2026Collaboration with PETRONAS Suriname E&P B.V. and Subsea Integration Alliance to develop subsea solutions in Suriname's offshore basin. Framework aims to accelerate field development with integrated subsea technologies, leveraging deepwater expertise.
• Petco (PETRONAS trading unit) / Pengerang TerminalminorStrategic or Co-development Partner · 5 April 2026Petronas-chartered tanker Ocean Thunder loaded with Iraqi crude passes through Strait of Hormuz following Iran's decision to allow vessels without US or Israeli connections to transit; expected to deliver cargo at Pengerang terminal in mid-April.
• JOGMEC (Japan Organization for Metals and Energy Security)majorStrategic or Co-development Partner · 27 March 2026Memorandum of Cooperation signed to enhance collaboration on LNG supply, CCS, hydrogen, and greenhouse gas management. Strengthens Japan-Malaysia energy security and accelerates regional decarbonization efforts.
• FIA / Mercedes / McLaren / Williams / AlpineflagshipOEM/ Whitelabel/ Licensing Partner · 4 March 2026PETRONAS obtained FIA homologation for sustainable fuel powering Mercedes F1 power units used by Mercedes, McLaren, Williams, and Alpine teams for the 2026 season. Long-standing partnership with Mercedes-AMG since 2010; also supplies 40% non-fossil biofuel in Moto2/Moto3 support competitions targeting 100% sustainable fuel by 2027.
• Oman Ministry of Energy and Minerals / OQEPmajorStrategic or Co-development Partner · 15 February 2026Concession agreement for offshore Block 18 in North Sohar Basin covering 21,140 sq km with water depths 30-3,000m. PC Oman Ventures Ltd (PETRONAS subsidiary) holds 70% operating stake while OQEP's Batinah Offshore LLC holds 30% non-operating interest. Four-year initial exploration period extendable to 30 years of production rights.
• QatarEnergyflagshipStrategic or Co-development Partner · 3 February 202620-year Sales and Purchase Agreement (SPA) for 2 million tons per annum of LNG supply from Qatar to Malaysia with deliveries commencing in 2028. The deal was formalized during a ceremony in Doha on the sidelines of the 21st International Conference and Exhibition on Liquefied Natural Gas. The first long-term LNG SPA between the two energy companies.
• MISC Berhad / Hudong-Zhonghua ShipbuildingmajorStrategic or Co-development Partner · 3 February 2026MISC Berhad secured a 20-year LNG shipping charter from PETRONAS LNG Ltd, involving construction of three LNG carriers by China's Hudong-Zhonghua Shipbuilding. Vessels expected to operate from 2029 to support PETRONAS' LNG growth and fleet modernization.
• AM Green / Greenko Group / GIC (Singapore) / ADIA (UAE)majorStrategic or Co-development Partner · 17 January 2026Partnership in India's largest green hydrogen-based green ammonia project in Kakinada, Andhra Pradesh (~US$2 billion investment, 1.5 MTPA production capacity, exports to Uniper in Germany). PETRONAS (Malaysia) is among the partners alongside GIC and ADIA.
• Government of Malaysia / Petros (Sarawak)flagshipStrategic or Co-development Partner · 10 January 2026Sarawak filed petition to Malaysia's highest court challenging three federal petroleum laws to gain more control over its natural resources. Sarawak's state firm Petros manages natural gas production, in conflict with PETRONAS. Legal challenge aims to clarify constitutional boundaries related to Sarawak's petroleum rights.
• WBCSD / CEO Action Network (CAN)minorOthers · 8 January 2026PETRONAS is an external affiliate of World Business Council for Sustainable Development (WBCSD) and CEO Action Network (CAN) to advance Diversity & Inclusion aspirations.
• QatarEnergy / TotalEnergiesmajorStrategic or Co-development Partner · 15 November 2025Production Sharing Agreement signed for offshore exploration of Block S4 off Guyana, part of the 2022 Guyana Licensing Round. QatarEnergy holds 35% stake alongside TotalEnergies and PETRONAS.
• TNB (Tenaga Nasional Berhad) / Terengganu IncmajorStrategic or Co-development Partner · 9 November 2025Partnership for Hybrid Hydro Floating Solar and Green Hydrogen Hub in Terengganu, involving over 6,000MW of renewable energy in the pipeline. TNB aiming for Net Zero 2050 plan.
• QatarEnergy / Chevron / Staatsolie (Suriname)majorStrategic or Co-development Partner · 5 November 2025QatarEnergy signed production sharing contracts for offshore Blocks 9 and 10 in Suriname, with 20% and 30% interest respectively. Partnerships with PETRONAS Suriname, Chevron, and POC (Staatsolie).
• OQEP (Oman)majorStrategic or Co-development Partner · 21 October 2025Petronas Carigali signed MOU with OQEP at OQEP's headquarters in Muscat to jointly pursue oil and gas exploration and production across the Middle East and Southeast Asia. PETRONAS has been active in Oman since 2018 and currently holds participating interests in Block 61.
• Top AI Employers Malaysia (Grab, Maybank)minorOthers · 4 January 2025PETRONAS identified among top 10 companies hiring AI engineers in Malaysia in 2026 alongside Grab and Maybank, deploying AI at scale for national infrastructure, sustainability, and financial regulation.
• SK Earthon (South Korea)minorStrategic or Co-development Partner · 8 September 2024SK Earthon secured operatorship of the Ketapu Cluster off the coast of Sarawak through a Production Sharing Contract with PETRONAS. Holds 85% participating interest; plans development feasibility studies by 2025.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Aramco Ventures: Corporate venture arm of Saudi Aramco, investing in breakthrough technologies across energy, sustainability, and digital. Closest comparable in scale and mandate as a national oil company's strategic CVC with similar upstream-to-downstream integration lens.
• Chevron Technology Ventures: Corporate venture arm of Chevron investing in early- to growth-stage companies across the energy value chain. Directly comparable as a major IOC CVC targeting upstream, downstream, and emerging energy technologies.
• bp ventures: Corporate venture arm of bp investing across mobility, renewables, and decarbonization. Comparable as a Western supermajor CVC with similar strategic mandate around future-of-energy, though more skewed toward mobility and renewables than PETRONAS Ventures.
• Shell Ventures: Shell's corporate venture capital arm investing in businesses shaping the future of energy. Directly comparable as a global IOC CVC with strategic-investment orientation around decarbonization and energy innovation.
• Eni Next: Eni's corporate venture capital arm focused on decarbonization, circular economy, and emerging energy. Highly comparable as an integrated energy major's CVC with overlapping decarbonization mandate and counterparty relationship via the Searah JV.
• Equinor Ventures: Equinor's corporate venture arm investing in renewable energy, CCS, and low-carbon solutions. Comparable as a national/international oil company CVC with a strong focus on energy transition themes similar to PETRONAS Ventures' portfolio.
• ADNOC Drilling / ADNOC Ventures: Investment arm of Abu Dhabi National Oil Company, partnering with PETRONAS on unconventional gas development. Directly comparable as a Middle East national oil company CVC with similar sovereign-backing dynamics and energy-transition focus.
• Repsol Energy Ventures: Corporate venture arm of Spanish integrated energy major investing in energy transition, mobility, and digital. Comparable as an IOC CVC with a strategic partnership and minority stake investment model.

Emerging players

• Mubadala Capital: Sovereign-backed investor (UAE) deploying capital across alternatives, venture, and growth. Comparable as an emerging-markets sovereign investor with overlapping Asia/Middle East energy exposure, though broader than pure CVC.

Regional players

• SLB (Schlumberger) Innovation Factori / Ventures: Global energy technology company partnering with PETRONAS in Suriname. Functions as both a venture partner and a technology provider; relevant comparable as a deep-tech enabled energy investor with overlap on upstream digital and subsurface AI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/Petronas
• YouTubeyoutube.com/user/PETRONASOfficial
• Facebookfacebook.com/petronas
• LinkedInlinkedin.com/company/petronas
• Instagraminstagram.com/petronas
• TikToktiktok.com/@petronas_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries36 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PETRONAS Ventures