Adnoc, Petronas, and Storegga have revealed the signing of a Joint Study and Development Agreement (JSDA) to assess the potential for storing carbon dioxide (CO2) in saline aquifers and the establishment of carbon capture and storage (CCS) facilities in the Penyu basin, offshore Peninsular Malaysia. The agreement aims to achieve a minimum of 5 million tonnes per annum (mtpa) of CO2 capture and storage by 2030. It encompasses studies on CO2 shipping and logistics, geophysical and geomechanical modeling, reservoir simulation, and containment research, while also investigating the use of advanced technologies such as artificial intelligence (AI) to boost storage capacity.
Nora’in Md Salleh, CEO of Petronas CCS Solutions Sdn. Bhd. (PCCSS), expressed enthusiasm, stating, “This collaboration with Adnoc and Storegga could enhance our ability to develop and mitigate risks associated with saline aquifers as CO2 storage sites, drawing on our partners’ expertise and experiences from other regions.” This partnership aligns with Petronas’ broader objective of positioning Malaysia as a regional CCS hub for the Asia Pacific, contributing to the national climate goals.
Petronas, a participant in Malaysia’s National Energy Transition Roadmap (NETR) Committee, sees CCS as a critical component in achieving a sustainable, low-carbon future. The Malaysian government plans to introduce a dedicated CCUS legislation by the end of 2024. Nora’in Md Salleh further highlighted Malaysia’s interest in strengthening economic ties with the UAE across various sectors under the Malaysia-UAE Joint Committee for Cooperation (JCC) framework.
Hanan Balalaa, Adnoc’s Senior Vice President for New Energies, emphasized the importance of carbon capture in reducing emissions responsibly, aligning with Adnoc’s goal of achieving Net Zero by 2045. The partnership with Petronas and Storegga aims to develop global carbon management hubs, aiding customers in their decarbonization efforts.
Storegga’s involvement is crucial, given its pioneering role in advancing CCS globally. Tim Stedman, CEO of Storegga, noted the significance of this partnership in creating a world-class CCS hub and facilitating large-scale industrial decarbonization. The JSDA’s activities are anticipated to commence later this year.
