Petronas, Shell to work on CCS projects in Malaysia
Petronas has signed a joint study and collaboration agreement with Shell to explore opportunities and project collaborations in carbon capture and storage (CCS) to help provide CO2 storage solutions in Malaysia and the region, it said on January 11.
Under the agreement, the companies will perform an integrated CCS area development plan study within selected locations offshore Sarawak. The scope of the agreement includes exploring the provision of decarbonisation service to Shell’s local and cross-border facilities, as well as to other potential regional customers.
“The outcome of the study will produce options in potential areas for further collaboration,” Petronas said.
Last November, Petronas signed a memorandum of understanding (MoU) with ExxonMobil to explore opportunities in CCS technologies to support the decarbonisation of Malaysia’s upstream industry as well as to provide CO2 storage solutions for the region.
In December, an MoU was signed with POSCO International Corporation and POSCO Engineering & Construction to assess for opportunities to unlock CCS potential and identify suitable technology within the scope of carbon capture, transportation of CO2 and storage for potential application.
Petronas said it is taking deliberate steps to build a resilient and sustainable portfolio to support the transition towards lower carbon energy sources. The company is also pursuing more zero continuous flaring and venting of hydrocarbons to reduce emissions aligned with its aspiration to achieve net zero carbon emissions by 2050.