Petronas Collaborates With ADNOC, Storegga On Offshore CCS In Malaysia

KUALA LUMPUR, Aug 20 (Bernama) -- Petronas, ADNOC and Storegga have signed a joint study and development agreement (JSDA) to evaluate the carbon dioxide (CO2) emissions storage capabilities of saline aquifers and the construction of carbon capture and storage (CCS) facilities in the Penyu basin, offshore Peninsular Malaysia.

The JSDA targets at least five million tonnes per annum of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study while exploring the application of advanced technologies, including artificial intelligence,  to enhance storage capacity. The JSDA’s activities are provisionally scheduled to begin later this year, the parties said in a joint statement today.

Petronas CCS Solutions Sdn Bhd chief executive officer Nora’in Md Salleh said the agreement with ADNOC and Storegga would potentially allow the national oil company to build its capability to develop and de-risk saline aquifers as carbon dioxide storage sites by leveraging on its partners’ expertise and experience in other regions. “This strategic partnership aligns with Petronas’ overarching goal of establishing Malaysia as a regional CCS hub to serve Asia Pacific where it may build up the storage capacity through saline aquifers,” she added.  

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National oil company Petronas is a member of Malaysia’s National Energy Transition Roadmap committee, which has identified CCS as one of six energy transition levers to enable the country to be sustainable, low-carbon and resilient. The Malaysian government is set to table a standalone CCUS bill by the end of 2024.

Nora’in said Malaysia is interested in intensifying bilateral economic partnerships with the United Arab Emirates (UAE) in fields such as the economy, entrepreneurship, and renewable energy, within the Malaysia-UAE Joint Committee for Cooperation (JCC) framework. “With the signing of the JSDA, Petronas supports the JCC and enhances the established relationship between the national oil firm and ADNOC, reciprocating Petronas’ presence in ADNOC’s unconventional upstream business in Abu Dhabi,” she added.

-- BERNAMA