TotalEnergies, Petronas, and Mitsui Team Up to Develop Offshore Carbon Storage in Southeast Asia

Tuesday, June 27, 2023

TotalEnergies, Petronas and Mitsui have signed an agreement to develop a carbon storage project in Southeast Asia. 

The partners plan to evaluate several CO2 storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields.

"This partnership aims to develop a CO2 merchant storage service to decarbonize industrial customers in Asia," Total Energie said.

This agreement was signed by Patrick Pouyanné, Chairman and CEO of TotalEnergies, Muhammad Taufik, President and Group CEO of Petronas, and Toru Matsui, Senior Executive Managing Officer of Mitsui & Co. in Kuala Lumpur.

"In Asia, where countries such as South Korea and Japan have pledged for Net Zero Commitment in 2050, the development of a Carbon Capture and Storage (CCS) value chain for hard-to-abate industrial emissions will require a specific regulatory framework and significant investment. Through this agreement, the partnership will study several potential storage sites, determine the best technical means to deliver CO2 to Malaysia from industrial clusters in the region and develop the most appropriate business framework for commercialization of a carbon storage service in Malaysia," TotalEnergies said.

Credit: Petronas

“TotalEnergies is pleased to join forces with Petronas and Mitsui on a Carbon Storage hub in Malaysia to support decarbonization in Asia. We will bring to the partnership our strong CCS expertise, anchored in Europe with a first integrated project in Norway [Northern Lights] due to start next year and several other projects that will contribute to meeting our carbon storage capacity target of 10 million tons per year by 2030”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“Petronas is proud to collaborate with forward-looking partners such as TotalEnergies and Mitsui in developing solutions through CCS to move us closer towards a lower-carbon future. The strategic partnership demonstrates Petronas’ commitment to position Malaysia as a regional CCS hub to capture opportunities in the energy transition with a focus on reducing the carbon footprint of our operations to continue delivering the energy needs of today”, said Tan Sri Tengku Muhammad Taufik, President and Group CEO of Petronas.

“CCS is based on existing technologies and seen as an affordable solution to decarbonize the hard-to-abate emitters. Mitsui will utilize its expertise in the oil and gas upstream activities and extensive business networks to jointly work with Petronas and TotalEnergies to develop a CCS value chain project in Malaysia. Through the development of CCS business globally, Mitsui will contribute to creating an eco-friendly society”, said Toru Matsui, Representative Director, Senior Executive Managing Officer of Mitsui & Co.


Categories: Energy Industry News Activity CCS Carbon Storage Carbon Capture And Storage

Related Stories

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

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

EnerMech Names APAC Regional Chief

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Marine Masters Secures Wellhead Platforms Installation Job Off India

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

Eco Wave Finds Partner for Wave Energy Project in India

ADNOC Secures LNG Supply Deal with India's BPCL

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

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