PETRONAS and Shell collaborate on carbon capture and storage solutions
Under the JSCA, PETRONAS and Shell will perform an integrated CCS Area Development Plan study to support the decarbonisation ambitions of both parties 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.
Signing the agreement on behalf of PETRONAS was its executive vice president and chief executive officer of upstream, Adif Zulkifli, while Shell was represented by its Malaysia chairman and senior vice president of Upstream Malaysia, Ivan Tan.
Zulkifli said: “PETRONAS has a long-standing partnership with Shell. We are confident that this latest collaboration will inspire more innovation towards managing carbon emissions and advancing our shared ambition of delivering energy solutions in a responsible and sustainable manner.
“This collaboration underscores PETRONAS’ continuous efforts to explore partnership opportunities in CCS. We will continue this trajectory to unlock opportunities which could potentially help reduce emissions and achieve our net zero carbon emissions aspirations. This is one of the many efforts to position and establish Malaysia as a leading CCS solutions hub in the region.”
Last November, PETRONAS signed a Memorandum of Understanding (MoU) with ExxonMobil Exploration and Production Malaysia 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.