Petronas enters into joint agreement with Exxon Mobil Corp  in exploring carbon capturing storage technologies in Southeast Asia

On Tuesday, Malaysia’s state energy firm, Petroliam Nasional Berhad (Petronas) stated, it has entered into a joint agreement with Malaysia’s unit of Exxon Mobil Corp to jointly explore opportunities in capturing carbon and storage (CCS) technologies in a bid to decarbonise the country’s upstream industry.

Last month, Exxon Mobil had said it wants to build CCS hubs in Southeast Asia and had started talks with countries for potential storage options for carbon dioxide.

According to a memorandum of understanding (MOU) is signed on November 3, both companies will assess the viability of potential CCS projects in offshore Peninsular Malaysia and identify suitable technology for potential application, said Petronas.

Both companies will share subsurface technical data to enable CO2 storage assessment and characterisation.

“Relevant data related to pipelines, facilities and wells will also be shared to evaluate potential reutilisation of existing infrastructure for transport and storage in selected locations,” said Petronas.

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