Malaysian state-owned energy giant Petronas, Abu Dhabi National Oil Company (ADNOC), and UK’s carbon capture and storage (CCS) company Storegga have signed a joint study and development agreement (JSDA) to evaluate the CO2 emissions storage capabilities of saline aquifers and the construction of CCS facilities in the Penyu basin offshore Peninsular Malaysia.
The agreement is targeting at least 5 million tonnes per annum (mtpa) of CO2 capture and storage capacity by 2030 and its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modeling, reservoir simulation, and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity.