Malaysian national oil company Petronas has signed an agreement with ExxonMobil to jointly explore carbon capture and storage (CCS) technologies to help decarbonize Malaysia’s upstream industry and to provide CO2 storage solutions for the region.
Petronas said the Memorandum of Understanding with ExxonMobil’s Malaysian subsidiary will lead to an assessment of potential CCS projects in certain locations offshore Peninsular Malaysia and identify suitable technology within the scope of carbon capture, transport and storage for potential application.
The two companies will also share subsurface technical data to enable CO2 storage assessment and characterization.
Relevant data related to pipelines, facilities and wells will also be shared to evaluate potential reutilization of existing infrastructure for transport and storage in selected locations.
ExxonMobil has had an upstream presence in Malaysia for decades, and operates dozens of offshore platforms and numerous fields, with Peninsular Malaysia its stronghold.
Joe Blommaert, president of ExxonMobil Low Carbon Solutions, said: “ExxonMobil continues to explore opportunities in Southeast Asia for large-scale carbon capture and storage projects that have the potential to make the greatest impact in the highest-emitting sectors.”
Adif Zulkifli, Petronas’ executive vice president and chief executive of Upstream said: “This collaboration is an important step to unlock the opportunities and potential of CCS in Malaysia through applied technologies and innovation, potentially helping us reach our net zero carbon emissions by 2050 aspiration amidst an evolving energy landscape.”
Petronas said it is taking deliberate steps to build a portfolio to support the transition toward low-to-zero carbon energy sources.
These include developing, testing, and piloting a suite of technologies at its first offshore CCS project set for CO2 injection in 2025.
For more information visit www.corporate.exxonmobil.com
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