Three companies collaborate on offfshore CCS in Malaysia
PETRONAS, ADNOC and Storegga announced today the signing of a Joint Study and Development Agreement (JSDA) to evaluate the carbon dioxide (CO2) emissions storage capabilities of saline aquifers and the construction of carbon capture and storage (CCS) facilities in the Penyu basin, offshore Peninsular Malaysia.
The agreement is targeting at least 5 million tons per annum (mtpa) of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity.
Malaysia’s geological abundance of deep saline aquifer reservoirs should allow for the development of large-scale, permanent CO2 storage solutions and the agreement will significantly accelerate regional CCS deployment, while strengthening collaboration between the strategic partners. The success of this initiative will lay the foundations for a regional CCS hub serving both domestic and international emitters.
ADNOC is targeting a carbon capture capacity of 10 mtpa by 2030, which is the equivalent emissions to those released by 2 million internal combustion vehicles.
