Petronas, ADNOC, Storegga Team Up For Offshore Carbon Capture, Storage In Malaysia
Date
8/20/2024 2:00:19 PM
(MENAFN- The Peninsula)
Xinhua
Petronas, ADNOC, Storegga team up for offshore carbon capture, storage in MalaysiaKUALA LUMPUR, Aug. 20 (Xinhua) -- Malaysia's state-owned oil and gas firm Petroliam Nasional Berhad (Petronas), Abu Dhabi national oil company ADNOC and storage solutions provider Storegga announced on Tuesday they have teamed up for offshore carbon capture and storage in Malaysia.
Petronas said in a statement that the trio have signed a joint study and development agreement to evaluate 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 agreement was targeting at least 5 million tons per annum of CO2 capture and storage capacity by 2030 and its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity.
"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," said Nora'in Md Salleh, Petronas CCS Solutions Sdn. Bhd. (PCCSS)'s chief executive officer.
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