Petronas and Accenture collaborate to commercialise logistics platform

06 February 2023 2 min. read

Global oil & gas giant Petronas has renewed its collaboration with Accenture, focused on exploring the commercialisation of a successful in-house logistics and operations platform built by the consultancy.

The two companies commenced their partnership in 2021, when Petronas hired the global consulting firm to lead the design, build and roll-out of a platform that optimises its logistics operations.

Known internally as STEAR, the platform helps supply chain planners with demand management, intelligent routing and scheduling of vessels, and near real-time voyage tracking and monitoring. The platform also ensures fuel consumption is optimised.

Petronas re-hires Accenture for commercialisation of logistics platform

Taken into production late 2021, the platform has over the past 12+ months not only helped Petronas “significantly reduce operating costs”, said Datuk Bacho Pilong, a Senior Vice President at Petronas, but also slash carbon emissions by 15%. In addition, the platform also helped the oil giant reduce cargo transfer time through more accurate planning and scheduling, and enabled quicker resolution of logistical deviations.

Having shared its solution at fleet vessel and oil/gas tanker industry events, Petronas found that other companies in the sector (and adjacent industries) were keen on leveraging the solution. This has triggered Petronas to explore the opportunity to launch the STEAR platform externally, and commercialise its value added.

“With the growing need for logistics optimisation in the industry, and our proven success, there is and increased interest amongst industry players for our solution,” explained Pilong. “STEAR can also support the broader industry reduce carbon emissions and we can do more by scaling it to onshore logistics optimisation.”

This is where the renewed collaboration with Accenture comes in. The oil & gas company is working with the firm’s consultants to evaluate commercialisation opportunities at a global level.

On the collaboration, Valentin De Miguel, a Senior Managing Director at Accenture and Strategy & Consulting lead for Growth Markets, said: “Building on our relationship with both Petronas, this collaboration promises to deliver significant benefits to the industry. We’re looking forward to embark on this joint ambition.”

Petronas ranks among the 30 largest oil companies in the world (the top two companies are Chinese, Saudi Aramco ranks third). The company is headquartered in Malaysia, and while Accenture’s support is led by its team in Malaysia, the collaboration was formalised in the Middle East – on the sidelines of the recent International Petroleum Exhibition & Conference held in Abu Dhabi.