Malaysia’s Petronas and oil major ExxonMobil Exploration and Production Malaysia (ExxonMobil) have signed two agreements to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
Under the agreements, the parties will define their next steps, including the maturation of technical scopes for the CCS value chain, evaluation of the identified fields for CO2 storage utilisation, development of the appropriate commercial framework, and establishment of advocacy plan support on regulations and policy development in enabling CCS projects.
Emry Hisham, Petronas Head of Carbon Management, said: “Petronas is proud to work with its long-standing partner ExxonMobil to pursue CCS projects together, aligning our shared aspiration to deliver energy solutions in a responsible and sustainable manner. This collaboration further strengthens Petronas’ commitment in providing decarbonisation solutions, aligned with our aspiration in establishing Malaysia as a leading CCS hub in the region.”
The agreements follow the companies’ signing of a Memorandum of Understanding (MoU) in November 2021 to explore potential carbon capture and storage technologies projects in Malaysia.
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