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

Norwegian Oil Investment Will Peak in '25

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

CNOOC Brings New Offshore Gas Field On Stream

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Current News

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

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