Petronas Carigali reaches FID to develop ‘one of the largest offshore CCS projects in the world’

Petroliam Nasional Berhad (Petronas) logo

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KUCHING, Nov 29: Petronas Carigali’s Kasawari CO₂ Sequestration (CCS) project offshore Sarawak is expected to reduce carbon dioxide volume emitted via flaring by 3.3 million tonnes (MtCO₂e) annually, making it one of the largest offshore CCS projects in the world.

Petronas Carigali Sdn Bhd (PCSB), a wholly-owned subsidiary of Petronas, announced today that it has reached the Final Investment Decision (FID) for the development of the Kasawari CO₂ Sequestration (CCS) project located in Block SK316 about 200 kilometres off Bintulu.

The FID was approved on Oct 20, 2022, followed by the award of the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract for the project to Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) on Nov 3.

PCSB’s chief executive officer (CEO) Hasliza Othman said the FID marks a crucial stage in the progress of CCS solutions.

“This project is expected to become the catalyst in achieving end-to-end CCS capability development within Petronas and the first step in unlocking Malaysia’s potential as a regional CCS solutions hub,” she said in the statement today.

The project aspires to pave the way forward for future decarbonisation plans for Petronas and Malaysia, as well as to support Petronas’ progress towards achieving its Net Zero Carbon Emission (NZCE) by 2050 targets. — DayakDaily