The Malaysian national oil company Petronas has signed a Memorandum of Understanding (MoU) with Japanese Mitsui & Co., Ltd. for the conceptual and feasibility studies on CCS value chain, including the evaluation of CO2 storage sites in Malaysia.
Under the MoU, both parties will evaluate potential CO2 storage sites offshore Peninsular Malaysia in line with Petrona’s’ aim to establish Malaysia as a CCS regional hub in the Asia Pacific. The scope of collaboration covers the evaluation of other CCS value chain, capturing and gathering strategy of CO2 from various industries, competitive transportation of the CO2 and emerging technology in direct air capture. Petronas and Mitsui & Co. will leverage their combined network and expertise to progress in these areas.
Mitsui is a shareholder in UK-based carbon management business Storegga, that is developing the Acorn CCS project.
Petronas Head of Carbon Management, Emry Hisham said: “Through this collaboration, PETRONAS can leverage on Mitsui & Co.’s experience in its CCS project in the United Kingdom, which is the first CO2 appraisal and storage license issued by the United Kingdom’s Oil and Gas Authority. We are confident that the feasibility studies will bring about valuable contribution in unlocking CCS potential in Malaysia. This is one of the many efforts to establish Malaysia as a leading CCS solutions hub in the region.”