Petroleum Sarawak Berhad, PETRONAS, through its subsidiary – CCS Ventures Sdn Bhd, and Japanese Consortium Parties comprising have signed a Storage Site Agreement for the M3 depleted field offshore Sarawak.
The agreement not only enables the feasibility studies of the CO2 storage sites starting with the M3 depleted field (M3 CCS Project), but also the planning of relevant CO2 storage site development, including onshore terminals and transportation pipelines, as well as assessment of its techno-commercial feasibility.
Petronas Resource Manager for Carbon Capture, Utilisation and Storage (CCUS) in Sarawak said this step forward signifies our commitment as Sarawak’s economic growth engine leveraging on CCUS as an enabler. This is the first project for the industry and the impetus to more low-carbon solution projects. We are pleased to share our commitment to Sarawak with PETRONAS and the Japanese Consortium who are participating with us in this CCUS project.
By securely storing captured CO2 underground, CCS plays a pivotal role in decarbonising key industries, and it is hoped that this milestone will set an impetus for other CCS initiatives within Malaysia.
The Japanese Consortium Parties representative believes that expertise of each company can make great contribution for realizing the CCS value chain centered on Sarawak aiming at the decarbonisation of the APAC region, including Japan.
