Malaysia, Japan sign storage site agreement

Petroleum Sarawak (Petros), Petronas through its subsidiary CCS Ventures, and a Japanese consortium have signed a storage site agreement (SSA) for the M3 depleted field offshore Sarawak, Petronas said on February 29.

The SSA facilitates the commencement of feasibility studies for CO2 storage sites, beginning with the M3 depleted field. It also encompasses the planning of relevant CO2 storage site development, including onshore terminals and transportation pipelines. The collaboration aims to assess the techno-commercial feasibility of the project.

Petronas said that this collaboration represents a significant advancement in the effort to reduce greenhouse gas emissions in the Asia Pacific (APAC) region, including Malaysia and Japan.  

The Japanese consortium comprises Japan Petroleum Exploration Co., JGC Holdings Corporation and Kawasaki Kisen Kaisha (K Line).