Petronas Carigali-MIT technology alliance

KUALA LUMPUR: PETRONAS Carigali Sdn Bhd (PCSB), the exploration and production arm of Petroliam Nasional Bhd (Petronas), has teamed up with MIT Innovation Sdn Bhd (MITSB) to produce a new drilling tool that can save more than RM150 million in drilling cost a year.