Malaysian energy giant Petronas is to work with ExxonMobil Exploration and Production Malaysia (ExxonMobil) to explore carbon capture and storage (CCS) technology opportunities offshore Peninsular Malaysia.
The agreement will allow the partners to identify suitable technology for CCS, in addition to seeing the companies sharing technical data to enable carbon dioxide (CO2) storage assessment.
The data can be shared to support the energy transition by evaluating potential reutilisation of existing infrastructure for transport and storage.
Signed as a formal Memorandum of Understanding (MoU), the deal is an effort by Petronas to establish Malaysia as a ‘leading CCS solutions hub’ in Southeast Asia.
Its current portfolio of low-to-zero carbon research including the development, testing, and piloting of its first offshore CCS project set for CO2 injection in 2025.