Malaysian oil and gas company Petronas has signed a collaboration deal with oil major Shell to explore opportunities and project collaborations in carbon capture and storage (CCS) space in Malaysia.
The two companies will carry out a CCS Area Development Plan study to support the decarbonization ambitions of both parties within selected locations offshore Sarawak.
The scope of the agreement includes exploring the provision of decarbonization service to Shell’s local and cross-border facilities, as well as to other potential regional customers. The outcome of the study will produce options in potential areas for further collaboration, Petronas said.
Last November, Petronas also signed a Memorandum of Understanding (MoU) with ExxonMobil Exploration and Production Malaysia Inc. to explore opportunities in CCS technologies to support the decarbonization of Malaysia’s upstream industry as well as to provide CO2 storage solutions for the region.
In December, it signed an MoU with POSCO International Corporation and POSCO Engineering & Construction Co. Ltd to assess for opportunities to unlock CCS potential and identify suitable technology within the scope of carbon capture, transportation of CO2, and storage for a potential application.