Petronas and ExxonMobil to Pursue CCS Projects in Malaysia

Bartolomej Tomic
Friday, January 27, 2023

Malaysian oil and gas company Petronas said Friday it had recently signed two agreements with U.S. major ExxonMobil to jointly pursue Carbon Capture and Storage (CCS) projects in Malaysia.

Petronas and ExxonMobil have committed to defining the next steps, which include maturing technical scopes for the CCS value chain, evaluating identified fields for CO2 storage utilization, developing an appropriate commercial framework, and establishing advocacy plans for support on regulations and policy development in enabling CCS projects.

The agreements were signed by Petronas's Head of Carbon Management, Emry Hisham Yusoff and ExxonMobil President, Shane Harris.  

Late in November 2022, Petronas Carigali said it had made the Final Investment Decision (FID) for the development of its Kasawari CO2 Sequestration (CCS) project offshore Sarawak.

The CCS project, located in Block SK316 about 200 kilometers off Bintulu, is expected to reduce carbon dioxide volume emitted via flaring by 3.3 MtCO2e annually, which Petronas said would make it "one of the largest offshore CCS projects in the world."

Also, in December, Petronas said it would work with Japan's JX Nippon Oil & Gas Exploration Corp. on a joint proposal to monetize gas potential in the Bujang, Inas, Guling, Sepat, and Tujoh (BIGST) fields located offshore Kerteh, Terengganu.

Petronas said at the time that carbon capture and storage (CCS) technology would be [a key solution] in monetizing the fields since they contain high carbon dioxide (CO₂) levels, adding that this would be "the first CCS project in Peninsular Malaysia.”

Categories: Energy Industry News Activity Decarbonization Carbon Capture CCUS CCS

Related Stories

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Woodside to Shed Some Trinidad and Tobago Assets for $206M

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

SLB Names Raman CSO, CMO

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Japan's Mitsui Eyes Alaska LNG Project

China's CNOOC Aims for Record Oil and Gas Production in 2025

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Current News

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com