Japanese oil company Inpex has concluded a memorandum with Mitsubishi Heavy Industries (MHI) to jointly study solutions for the technological challenges in the energy sector.

As per the memorandum, Inpex will collaborate with MHI to establish a working committee and address technological solutions including utilizing the Internet of Things (IoT) and robot technology in order to further improve the optimistation of oil and gas production operations.

The deal is a part of Inpex’s plan to sustainably grow its oil and natural gas development business.

In order to develop and evolve into an integrated energy company, Inpex plans contribute to the stable supply of energy with a focus on natural gas.

MHI intends combine its wide range of technologies in the fields of energy and the environment with focus on the global oil and gas industries. It plans to start with its advanced technology applicable to gas turbines.

Inpex and MHI will launch new innovative business models and opportunities surpassing conventional frameworks through the joint study.

MHI said in a statement: "The conclusion of the memorandum results from converging the aims of the two companies."

In April, Inpex received a notice from the Indonesian authorities to come up with a new development plan for the Abadi liquefied natural gas (LNG) project.

The authorities have asked the company to submit a proposal based on an onshore plant for the LNG project to be located in the Arafura Sea.