A Petronas subsidiary and three Japanese firms have signed a Storage Site Agreement (SSA) as they look to unlock carbon capture and storage (CCS) opportunities in Sarawak.
The agreement involves Petroleum Sarawak Berhad (Petros), through its subsidiary CCS Ventures, and Japan Petroleum Exploration Co. (JAPEX), JGC Holdings Corporation and Kawasaki Kisen Kaisha (K Line) and concerns the M2 depleted offshore field.
The SSA not only enables the feasibility studies of the CO2 storage sites but also the planning of relevant CO2 storage site development, including onshore terminals and transportation pipelines, as well as assessment of its techno-commercial feasibility.
This collaboration represents “a significant advancement” in the effort to reduce greenhouse gas emissions in the Asia Pacific (APAC) region, including Malaysia and Japan, according to a Petronas statement.
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